If I was off-base, then apologies and I stand corrected....
My understanding has always been that in a fully balanced system, the 2 channels are completely separated from the input through to the output while something that just converts single ended signal (in and out) through an op-amp to XLR connections is different. Also in a non-fully balanced setup, the L and R channels share a common ground. So, wouldn't the differences in the impedience be caused by the op-amps used.
Honestly, have I misunderstood something?
- Jeff