Dazzdax, I cannot tell you relative to being totally floating, but a system having only one ground, removes multiple routes to ground. One way is through the interconnects and the other is through the ground pin on the ac cord. While I did not have any problems with hum as a result of these ground loops, especially with the H-Cat, it was reducing the clarity of the sound, most notably in the bass. I guess with no ground anywhere you have no current to ground. I don't know what happens to the leakage currents from your transformers.
Imin2u, I think this is an urban myth and fortunately so. Many components, in particular cd players and dvd players have either have two pin connectors, no ground pin on their IEC, or no wire connected to it internally. No ground also affords no protection whatsoever. My home insurance agent did not know what I was talking about, saying that many of the homes he insures have no ground wiring as both Al and I experienced in home built in the 40s and 50s.
