08-10-11: Gammajo
"Of course no integrated pre-amp is going to be as good as a dedicated reference tube pre for example,"
I think that this may not necessarily be true
So if the one unit is well designed and shielded, if think it can compete and beat separates at the same cost.
Gammajo, of course yes the possibility to save the designer and end user money using a single box is obvious, and I agree Ayon have produced an excellent built in pre in the CD-5s. I also agree, that saved money can go toward better ic's & pc's (always a good thing), but assuming you already have reference level cables, adding a separate pre has the possibility of making a good improvement as there is less compromise in a dedicated preamp. In a well sorted system, I think the Ayon Orbis should be good for a 10-20% imrpovement over the CD-5s, and in high end those aren't small numbers. Move up to Vitus and it becomes night and day.