top 5 preamps under $1,200

I once had an Audible Illusions Modulus 3. Sounded nice but the brand new National 6922 tubes only lasted about 200 hours. Be sure to use Russian miltary spec tubes if you get the AI preamp. I acquired my mint VTL 2.5 (no phono stage) locally for just $775. Very happy with it for money spent. The TAD 150 Signature did not have quite the same detail but very close and sounded a bit warmer with a wider sound stage versus the VTL. Seriously, if you can get a TAD for $800 or so and don't care about built in phono I'd say go for it. The line stage section is very nice. Only uses (2) 12??7 tubes so tube rolling is fairly cheap. Tube life also not a concern. Best of luck.

"I've seen audilble illusions module 3 and/ rogue 99 go for $800, which is better? Is it value added to spend $300 more on VTL?"
dvdgreco,
I would suggest the VTL,too,although I think they all are very good preamps. But here's some more info that might help you decide if the $300 is worth it:
1. Both the AI and Rogue99 have separate power supplies. Usually a positive thing but thought you'd like to know in case you have space issues with another box.
2. The AI is phase inverting- meaning pos. and neg.are reversed on all signals passed through it.AI seems to think this isn't a big deal even though it will feed your amp this inverted signal and requires correcting(reversing)at the speaker terminals. AI claims they didn't want to add any "unnecessary" parts to signal paths but that logic is just lame,imho. Rogue and VTL are both regular, noninverting preamps.
3. Only the VTL has HT (Home theater) passthrough circuitry. This is only important if you want to integrate your 2channel systen into a home theatersystem either now or in the future. I'm not sure exactly how you could incorporate HT with the AI or Rogue.or if this is even relevant to your uusage.
I tried to be unbiased in the above info but, ultimately, I am biased toward the VTL. A few years ago I was searching for a tubed preamp mainly for 2 channel listening but also wanted HT passthru. I was able to try the Cary 98 and the VTL 2.5in my system. The VTL was just what I was looking for and bought a new unit from a local dealer. I swapped in NOS Mullard tubes about a year ago and this added a little more warmth without diminishing details. I'm not associated with VTL, just a very satisfied customer. Hope this helps and good luck!

Another option to consider - there's an integrated amp
'Tube Audio Designs TAD-60 w/extras reduced a lot' posted on Agon for a very nice price. No phono of course plus limited inputs. To offset the limited input concerns on the integrated amp I would use a Calrad multi input to one output good quality selector box which is less than $40. I got mine from Cable and Connectors in Conn. and use it to switch between 2 turn tables feeding one phono stage. Not sure on the efficiency of your speakers but the TAD should drive most speakers out there. AND - it sounds nice, very well made, plus Paul G of Tube Audio Design is a great guy to deal with for customer support/issues. Finally the TAD will hold its value. You can resell it down the road for close to what you'd pay for it. B&K amps are nice for the money, a great value but I'm guessing you'd like the TAD better. I have no association with the seller. :)

12-28-10: Pdspecl
I once had an Audible Illusions Modulus 3. Sounded nice but the brand new National 6922 tubes only lasted about 200 hours. Be sure to use Russian miltary spec tubes if you get the AI preamp.

I have 2 friends still using their Audible Illusions Modulus 3 and they have excellent results with Reflektor 6H23P-EB tube. Very durable, transparent, good extension in both ends, super low noise and low microphonics.

Check out Van Alstine (www.avahifi.com). A long history of solid products for a good price!