Hi Bob. Yes, I have had the Erato II in house for a month or so and I am still in the evaluation phase. MUSE did this in black for me and IMO it looks great. At first, I did a brief sonic comparison between the MUSE Model Three Signature preamp and the internal active preamp in the Erato II. My quick assessment confirms Kevin Halverson's assertion that the sonic differences are hard to identify - they sound quite similar. However, I had an impression the Model Three preamp displayed more depth, but maybe because the internal preamp was not broken in? I also like the separate power supply and large volume display associated with the Model Three Sig so, all other things being equal, I would choose to use the Model Three Sig preamp over the internal preamp. However, for those not owning the external preamp, the internal preamp would provide the same level of sonics and a seriously easy operating interface - just the player and your amp(s). Having one remote control both player and preamp is very nice.
Not being able to leave well enough alone, I am currently running the Erato II through a Tom Evans Vibe with Pulse II, which is still the best sounding solid state preamp I have ever heard. The MUSE preamps are nice, and are tonally similar to the TEAD (I could live with either), but IMO the Vibe/Pulse offers improvements in resolution and bass definition - two areas where it is reported to be very good. Unfortunately, there is no remote control of the Vibe/Pulse and I am back to using the Jensen transformers into my amps, since the Vibe/Pulse is single-ended only.
I am also using and comparing both the Erato II and my Lector CDP 7TL MkIII as sources. I am fortunate that both of these players sound wonderful. However, they each have comparatively distinctive strengths sonically, mechanically, and ergonomically, and of course the Erato II has an advantage in that it can play hi-rez discs. I am not yet able to choose one over the other (and may keep both). I wish this were easier but I cannot complain too much since everything sounds so good.