Its actually a line stage. Don also offers a phono stage but that is separate, not as an integrated preamplifier.
I've owned one of his custom SP-14s for several months and continue to be delighted. It is absolutely quiet, offers great dynamics and huge soundstage, and most importantly to me accurate tonalities. In addition, Don will customize any order in terms of parts quality, features, and output load to suit the customer. All this at a very reasonable cost.
Yes, it competes with much more expensive competition.