Every amplifier has some feedback. Even emitter resistor is a form of local feedback. The problem with global feedback is, that it corrects with a delay (phase shift from input to output). This delay produces overshoot in time domain (odd harmonics in frequency domain). 40dB feedback means, that amplifier has 100x higher gain without feedback. Since amplifier delays signal from input to output, signal fed back and summed at the input is late. It make very little difference for slow sinewaves, but for fast changing input signals amplifier, for a moment, has 100x higher gain and overshoots. Benchmark is trying to time correct it with separate error amplifier (two sets of output transistors). This overshoot shows in some Stereophile reviews as square wave response.
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