"Updating of a legend..." read the one-sheet in Barrington retailer Essential Audio's room. It was referring to the Transmission Audio M1i speaker, a much-evolved descendant of the Red Rose Music R3 loudspeaker designed by Bo Bengtsson that Michael Fremer favorably reviewed for Stereophile back in May 2001. The M1i combines a dipole quad-ribbon tweeter with an aperiodically damped 5" woofer and costs $4500/pair.

Audioengine's small powered speakers have become my go-to recommendations for desktop situations; I bought a pair of the Audioengine 2s for use with the flat-screen HDTV in our kitchen, where they do a great job. The 2s ($199/pair) are the small white speakers in the center of my photograph; flanking them are the Audioengine 5+ speakers ($399/pair). Source was a MacBook Pro feeding the speakers 24/96 audio via the 24-bit capable Audioengine D2 streaming wireless interface/DAC ($599/set), which my colleague Michael Lavorgna enthusiastically reviewed in February 2012.

With Benchmark's high-value DAC1 D/A headphone amplifier getting a little long in the tooth—our original review was in July 2003—it was good to hear the new DAC2 HGC ($1995) at Axpona. The DAC2 uses an asynchronous USB2.0 interface, will decode DSD files, has five digital inputs, two single-ended analog inputs, balanced and singled-ended analog outputs, two headphone outputs, and features a hybrid analog/32-bit digital volume control that preserves resolution. Analog signals are never digitized; digital signals never pass through an analog potentiometer; yet both analog and digital volume are controlled with a single knob.

Channel D's Rob Robinson was using the same combination of Joseph Audio Pulsar speakers, Hegel amplification, and a Lynx Hilo D/A processor that he used at earlier shows to show off the LP rips made with his Pure Vinyl program for the Mac, now in its v3.1 incarnation. In honor of the late Alvin Lee, Rob played me a rip from a Kevin Gray-mastered 10 Years After LP, made with an Artemis turntable/arm, Zu DL103 cartridge, and the latest version of the Channel D SETA L solid-state phono preamplifier. I have been getting increasingly impatient with the occasional ticks and pops with my LP rips, as eliminating them is too much like work. But there was no such noise on Rob's rips, a tribute to his LP player.

M•A's Todd Garfinkle always makes good music at shows and Axpona was no exception. Todd was driving a Primare PRE32 preamp and Primare A363 power amp with single- and double-rate DSD master files, played back from his Korg recorder. Speakers were the two-way Elac BS244s, which combine an AMT tweeter with a dimpled metal-cone woofer. Piano and drums had excellent jump factor combined with clarity and accurate midrange tonality, despite the modest-looking, table-top set-up.

This modest system in the April Music room actually sounded like music. Solus 2-way speakers (sorry, didn't note the price) were being driven by the new Stello S100 50Wpc power amplifier ($1200) and Stello HP100 D/A preamplifier/headphone amplifier, all wired with Verastarr cables. The Stello components are nicely finished and use enclosures manufactured in California, though final assembly is in Korea. Only disappointment was that the HP100 uses the Burr-Brown PCM2705 USB audio chip, which is limited to 16-bit data with a sample rate up to 48kHz and operates in the less-than-optimal adaptive mode.

My drop-dead favorite sound of the show—I hesitate to call it "Best of Show," since I heard nothing on the ground and 9th floors, and only half the rooms on the 8th—filled the large corner room on the 7th floor co-sponsored by Balanced Audio Technology (BAT) and Music Direct. There, on the physical level, I encountered, as sources, an Esoteric K-05 SACD/CD player & Reference DAC ($8299) and Avid Acutus Reference SP turntable ($25,000) with Avid Pulsare II phono stage ($7000). Both fed a top-of-the-line BAT REX II preamplifier ($25,000) and BAT REX II monoblock amplifiers ($40,000/pair), which sang through Focal Scala Utopia loudspeakers ($30,000/pair). The component list, handwritten in my notepad by BAT's Geoff Poor, also includes Shunyata Triton and Typhon power ($10,000), but I don't see them listed on their website.

For many of us, the luscious equipment combo from Rochester, NY-based Your Final System would make our lives complete. I certainly wouldn't kick it out of bed, metaphorically speaking, though I don't know how the spouse and two dogs might react to all of this in the living room, let alone the bedroom. Pause for breath as you take a look at the line-up below, then grab a calculator and add it all together. I would, but my hands are too shaky from typing everything up.

Here we go: Your Final System HD Ref 3 Limited Edition Music Server System ($14,500), EMM Labs DAC 2X ($15,000), Purity Audio Ultra GT preamplifier ($53,000), bi-amplification of upper frequencies by KR Amplifiers SXi Mk.II integrated ($21,000) and lower frequencies by Channel Island Audio D200 Mk.II monoblocks ($3500/pair), Von Schweikert Audio VR-100XS "Universe" System with towers and two EX V15 subwoofers ($140,000), four additional EX V15 subwoofers ($10,000 each), MasterBuilt Signature Series speaker cables ($7500/pair), MasterBuilt Signature Series interconnects ($3600/pair) and power cables ($6200 each) and dual-headed powered USB cables ($4000), GIK Diffusers ($350 each), ASC Tube Traps ($450 each), ATS Acoustic Bass Traps ($150 each), ATS Acoustic Studio Stackers ($200 each), and a mere $37,000 worth of Critical Mass Systems equipment racks and stands.

Ever since encountering the wonderful sound of Nightingale electronics, manufactured by Simetel of Rome (as in Italy), at the first AXPONA show in Jacksonville, I've looked forward to another visit with their Lancaster, PA-based USA representative, Valentina Ross. Her set-up of Nightingale Concentus open-baffle CTR-02 loudspeakers ($9750/pair), Onda 90 monoblock amplifiers ($12,450/pair), PTS-03 preamplifier ($9750), CR-1600 line conditioner ($3960), and unnamed source and cabling—her assistants, who handed me literature, spoke little English—was one of the most attractive at the show, and the sound remarkably open and spacious.

For every reason under the sun, the big system from HiFi Imports of Colorado Springs should have sounded spectacular. Alas, given the 10' air space above the ceilings of most of the big conference rooms on the Doubletree's mezzanine, the law of the day was, the bigger they are, the farther they fall.