really that's a speaker efficiency and room size question more then which is better.
I agree that if you need power for in-efficient speakers the separates are the way to go.
If you have high efficiency speakers then I feel its less important and a good low power tube or class A integrated can sound as good or at times better then the separates.
I've run into the too much gain problem with high efficiency speakers and see Nelson Pass's concern in no usable volume range. so matching amp-speakers is a huge part of the process to good sound.
matching your preamp to an amp is also important to consider, gain, input-output impedances, etc. this area may be overlooked, the integrated can win easily if the pre-power amp is not matched right correctly.
glen
I agree that if you need power for in-efficient speakers the separates are the way to go.
If you have high efficiency speakers then I feel its less important and a good low power tube or class A integrated can sound as good or at times better then the separates.
I've run into the too much gain problem with high efficiency speakers and see Nelson Pass's concern in no usable volume range. so matching amp-speakers is a huge part of the process to good sound.
matching your preamp to an amp is also important to consider, gain, input-output impedances, etc. this area may be overlooked, the integrated can win easily if the pre-power amp is not matched right correctly.
glen