Just because you can, doesn’t mean you should.

With so few "major record labels" left standing, the music-loving audiophile stands alert for new venture—indies by the measure of indies—that offer very good music, excellent sound, and (is it too much to ask?) the occasional slab of vinyl. As first reported by Robert Baird in Stereophile's August 2014 issue, there is another worthy prospect worth celebrating: Smoke Sessions Records, the creation of Paul Stache, proprietor of Smoke Jazz Club on upper Broadway in NYC, where most of his discs are recorded live, with Stache himself at the controls.

We kick off the New Year with the "Loudspeaker issue"— there are seven models reviewed at all price levels, from Vienna Acoustics, Sjöfn, Monitor Audio, Wharfedale, DeVore Fidelity, Revel, and KEF, a review of an affordable subwoofer from SVS, and an interview with veteran speaker designer Michael Kelly of Aerial Acoustics.