When I favorably reviewed the Merlin Music Systems VSM Millennium loudspeaker in September 2001 (Vol.24 No.9), I noted that Merlin's Bobby Palkovic had been tweaking and upgrading the two-way floorstander since 1994. Back then, seven years seemed a long time to stick with a product, given the competitive speaker market, though there are precedents: for example, Wilson Audio Specialties' WATT/Puppy series (since 1986) and Vandersteen's 2 (since, I believe, 1977).
Now five more years have passed, and while…