Audio Research Ref 3 VS Mark Levinson 38s

A piece of advice DO NOT base your purchase on someone else’s opinion. Let your ears be the judge because it’s you that will have to live with it.

+1. As the OP can see, there are those here who feel the ARC is a much better choice, and there are those who feel the ML is a much better choice.

In the end, you are paying your own money, you need to choose what sounds best to you, not what sounds best to someone else.

In my post above, I actually had 4 "high end" brand preamps in my home at the same time for a couple months so that I could choose which one I liked best. Along with the ML 38S I had a Krell KRC-HR, BAT VK-51SE, and a Conrad Johnson Premier LS-16 mk II.
In my system, to my tastes, they finished in this order:

1) BAT
2) CJ
3) Krell
4) ML

I am sure that order could be made up in many different orders.
The point is, choose what sounds good to you, not what sounds good to someone else.

quick point. the 326s is light years beyond the 38s in sound quality. imo. i had both

Thank you all for your sound thoughts and advice. For those of you that said let your ears decide and listen to both would be impossible . I am lucky enough to buy one of these preamps let alone 2 and listen to them both to compare. That is out of the question. Now the question is ARC REF 3 or ML 326s . Would the ML 326s be worth the extra 2 grand or so ? 

Nobody is saying buy them both... can't you audition them?

The 326S is an excellent preamp; I enjoyed having it in my system.  Don't think you can go wrong with it - it is really tough to beat for the price.