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Audiophile equipment has always been a focus for 'cost of diminishing
returns' analyses. I suspect most of these claims have some physical
basis.
For example, tube amplifiers DO sound different than transistor
amplifiers--at clipping. This is measurable--at least the waveforms
are--and 'golden eared' audiophiles claim to hear the difference. OTOH,
many double blind tests have been done that indicate that basically no one
can tell the difference in most electronics (speakers are another matter).
[However, BOSE once tried to market an amplifier that had up to 3%
Harmonic
Distortion claiming no one could discern it at that level and the unit
could
be more powerful for the money with that compromise. No one would buy it
when other amps advertised .1% distortion.]