Agreed that the T+A PA 2500 R is a great sounding piece, but I personally feel the Bel Canto Black EX integrated sounds a chunk better for sure. The Bel Canto has more body and fullness with the same level of resolution and drives the bottom end with more authority, but is still very well controlled. Plus, the Bel Canto has the benefit of a superb built in DAC with PCM, DSD and MQA capability. A lot of the Bel Canto quality comes from their superb DAC in this piece and Ethernet input. Not knocking the T+A at all, it is an excellent piece, but I just find the Bel Canto exceptional. Before moving to the Bel Canto Black EX in my system with the ATC SCM40, I was using the T+A PA 2500 R with the T+A DAC 8 DSD and the GutWire UNO-S XLR interconnect between them which is an incredible cable. The T+A integrated with a very good DAC and cable will definitely cost more than the Bel Canto integrated. Of course, this can be taken with a grain of salt, as should be the opinion of anyone, but this comes from living long-term with both in the same system. With that said, I haven't heard the Bel Canto Black EX with the KEF Reference 1, but I can't imagine the combo not working well.
Note: as much as I'm a Bel Canto dealer, I have nothing to gain by mentioning this as keoliphant has his own Bel Canto dealer. Just lending my 2 cents as someone with extensive experience with both products.
Note: as much as I'm a Bel Canto dealer, I have nothing to gain by mentioning this as keoliphant has his own Bel Canto dealer. Just lending my 2 cents as someone with extensive experience with both products.