I'm pretty certain that Bomarc is correct that K2s use the same masters as XRCDs. The difference is in the manufacturing process (and of course the packaging).
As an aside, I have the XRCD version of Everybody Digs Bill Evans and it has the distortions that Hdm mentions on his K2 version. Presumably the problem is on the master tape which I suppose is why you never see Everybody Digs featured in Stereophile advertisements that way Moonbeams and Waltz for Debbie are. It may not be an audiophile classic (which begs the question of why JVC bothered to produce an XRCD version), but the music is damn fine.
As an aside, I have the XRCD version of Everybody Digs Bill Evans and it has the distortions that Hdm mentions on his K2 version. Presumably the problem is on the master tape which I suppose is why you never see Everybody Digs featured in Stereophile advertisements that way Moonbeams and Waltz for Debbie are. It may not be an audiophile classic (which begs the question of why JVC bothered to produce an XRCD version), but the music is damn fine.