Back in the 80's and 90's Audio Research and Conrad Johnson

Being an avid Conrad Johnson fan, my take is that CJ takes slow, steady, measured steps. Their gear, especially the higher end is stunning now. Probably not much to improve.

ARC keeps updating and improving, coming out with new models and keeping their name in the limelight.

ARC and CJ have slightly different flavors. My feeling is CJ is a touch warmer, ARC a touch cooler. Both superb but appealing to different tastes. 

ARC always=more accurate/resolving  CJ=more coloration/warmth  Absolutely a matter of taste.   The public expressed their tastes/opinions and the newer CJ gear moved toward resolution/less coloration    Strickly speaking tubed here.     No experience/observations regarding SS, in either case. AND(of course)- that's just the way I've always viewed the senario

I liked ARC (tube gear) more back then and have been using both for a while. CJ SS amps were great but not superb, except for e.g. the MF80 (a bit too warm but for those days great), MF2250A and esp the MF2500A. Never had the Premier 350 that has (still) quite a following.

Some how I leaned towards CJ in the 90s as I had a great relationship with their tech department as I modded every unit (Remember Ed, Joe?) from the PV3 to the PV12.

CJ’s modern tube amps have a.o. their proprietary Teflon caps which are leaner and provided more details, with the proper (NOS) tubes, it "Just sounds right"! My LP140m sound completely different than, e.g. the Premier 11A that I had.

I wonder what the future have in store for these companies..