You can see the system I'm using below. I just tried this comparison again earlier this week to see if maybe I was giving direct an unfair shake (I had compared the two setups in Q1 of this year using different components with the same CDP and concluded that a preamp was optimal at that time).
The Wadia direct sounds more transparent than through a preamp but the presentation falls apart as a whole; at base, the components of the music are all there, but it sounds more like a cacophony of sounds rather than a coherent presentation (i.e., music). On the other hand, through a high quality preamp, the presentation just gels and the PRAT is there in spades. It's a clear victory for the preamp in my system, despite the initial seduction of the direct mode's transparency.
The Wadia direct sounds more transparent than through a preamp but the presentation falls apart as a whole; at base, the components of the music are all there, but it sounds more like a cacophony of sounds rather than a coherent presentation (i.e., music). On the other hand, through a high quality preamp, the presentation just gels and the PRAT is there in spades. It's a clear victory for the preamp in my system, despite the initial seduction of the direct mode's transparency.