Larry Archibald, J. Gordon Holt

As of February, 1982, the ownership of this publication passed to other hands. In total despair about its precarious finances, JGH accepted with alacrity an offer by Larry Archibald (an occasional contributor in recent years) to purchase the magazine. This has now come to pass, and it is because of the resulting infusion of money that you are holding this issue in your hot little hands now instead of three months from now (and that is probably being a little optimistic about the way things were).

By now you've no doubt realized that <I>Stereophile</I> has changed its size&mdash;from 5&#189;" by 8 7/16" to 7&#189;" by 10&#188;". (All right&mdash;maybe you didn't know the <I>exact</I> dimensions of the change, but that's what they are.) We have Edward Chen, Publisher of <I>Stereophile</I>'s Chinese edition, to thank for our new size. It is the same size as the Chinese <I>Stereophile</I> and a common size in the Far East. We've been admiring it in Chinese for the last two-and-a-half years, and we thought it would make sense in English as well.

By the time you read this, I will have been fortunate enough to have attended a banquet put on by Harry Pearson in celebration of <I>The Abso!ute Sound</I>'s 20th anniversary. <I>Stereophile</I> and <I>TAS</I> may have had their disagreements from time to time, but I take this opportunity to congratulate Harry and his staff on 20 years of excellent high-end publishing. I believe it's not excessively immodest to report that high-end manufacturers frequently remind me of their gratitude for the healthy and vibrant high-end publishing community which exists in the United States&mdash;and does not in most other countries. Many publications make up this community, but <I>Stereophile</I> and <I>TAS</I> are certainly the most widely read.

I'd like to expand on the "expensive electronics/inexpensive speakers" discussion begun by John Atkinson in his <A HREF="http://www.stereophile.com//amplificationreviews/606/">Levinson No.26 & No.20 reviews</A>. "Perhaps because it acts as a bottleneck on the signal," he wrote, "the quality of an amplifier or preamplifier is far more important than that of a loudspeaker when it comes to preserving or destroying the musical values of the signal. This would appear to be heresy in the US where, to judge by the letters I receive, large, complicated, expensive loudspeaker systems are often driven by relatively inexpensive, modestly performing electronics, the rationale behind this being that, to quote one correspondent, 'It is the loudspeakers that produce the sound, therefore they are where the majority of the budget should be allocated.'"

<B>Editor's Note: </B><I>In 1985 and 1986, an argumentative thread ran through </I>Stereophile<I>'s pages, discussing the benefits or lack of double-blind testing methods in audio component reviewing, triggered by J. Gordon Holt's <A HREF="http://www.stereophile.com//asweseeit/121/">review of the ABX Comparator</A>. As this debate is still raging nearly 15 years later, we present here the entire discussion that bounced back and forth between the magazine's "Letters" section and features articles. It was kicked off by a letter from C.J. Huss that appeared in Vol.8 No.5.</I>&mdash;<B>John Atkinson</B>