It was hot—the kind of hot where the second you get out of the shower, you start sweating. My ceiling fan could’ve provided relief, but the repeated clink of its pull-chain added an offbeat to the music. My goal was to analyze my system’s current strengths and weaknesses and define my “reference sound”. The fan had to go. It was time to listen.

In this, my first equipment review for Stereophile, I'll begin by explaining my philosophy regarding reviewing inexpensive components. In my quest for products by designers who strive to establish new benchmarks for reproducing sonic realism at lower prices, I'll be looking for "value" components (a more appropriate term than "budget") whose designers logically fall into two camp. . .