I recently purchased the Placette active line stage. The sonic characteristics are as has been fully described in prior threads. Almost unbelievable transparency without any edginess. The bass response is fully present but is not accentuated. I was considering the first sound deluxe model at about the same price. I really could not evaluate either unit prior to purchase and decided on the Placette based on conversation with Guy Hammel and reviews, both published and on audiogon and audio asylum. There are several items of potential interest. The first sound products are available with Vishay resistors at a substantially increased price. The Placette represents a better value on a cost of component parts basis with the direct sales approach. I believe that most would think the First Sound products are better looking, I agree, but I do like the ability to use a remote to change sources and volume. If you want a balance control it can be installed in the Placette for a nominal cost. Several other custom options including theater loop, upgraded RCA jacks and apparently additional inputs may be available.
The main advantage of the Placette active linestage over the passive pre-amp and volume control appears to be the low output impedance created by the amplification. If I understand this correctly the active circuitry in the Placette line stage basically lowers the output impedance to just a few ohms. This allows for driving virtually any amplifier and apparently the use of long interconnects without degradation of high frequency response.
With the high degree of transparency, the Placette may sound either spectacular or to revealing depending on the quality of the source (both media and artist). This resulted in some of my heretofore favorite CDs or SACDs now being difficult to listen to. I believe that part of the problem is that I have Martin Logan Ascents which are also very revealing. In my original conversation with Guy he suggested that I could place the Placette between my amp and preamp and verify that the Placette added nothing to the sound. ie my system would sound just like it did before. I then decided that a good solution would be to take my old preamp, Conrad Johnson PV-14L, which fortunately I did not sell and install it through the tape loop of the Placette. Now I have the choice of which sound I would like. In communication with Guy about this he noted that other owners of the Placette products have used this approach. I think in this way I have the potential to have each selection of my music collection sound the best it can. I believe that the best media sounds significantly better with the Placette active line stage. Hopefully there will be increasing availability of well recorded source material performed by talented artists so I can fully enjoy the benefits of the Placette linestage.
In making your choice my guess is that the First Sound would sound better on many sources the Placette on others. The Placette would likely have the ultimately most absolutely accurate reproduction of the source material but this may NOT always sound the best. Your other components will also likely have a significant effect on which preamp sounds better with a specific recording.
Note: As of a month ago Guy Hammel does still offer a 30 day trial period. The warranty is a minimum of 10 years. He has been readily available by phone and promptly and completely answered all my questions.