There really do appear to be some divergent opinions on the Aqueous Anniversary cable. I demo'ed the Aqueous Anniversary speaker cable, and in my current system it easily outperformed cables such as Cardas Golden Reference, Wireworld Gold Eclipse III, Nordost SPM, Kimber 3033, Purist Opis, Audioquest Mont Blanc, and others. The magic in this cable is in the midrange - tonality is accurate, (string tone is exceptional), images take on the appropriate body and presence, soundstage width and depth were very good (although not the best I have heard), transient performance was outstanding - both attack and decay, reproduction of low level detail was excellent, bass was solid, extended, with wonderful authority in the midbass. In particular, the reason I was/am so fond of the Aqueous is that it's hard to find a cable that is as revealing in the midrange that is not edgy or clinical.
As a caveat, however, if your system is on the "warm" side of things in the midrange, I think the Aqueous Anniversary might be too much of a good thing. In the system I have now (admittedly not my ideal setup - Verdier Platine, EMM Labs CDSD/DCC2, Cat JL-1s, Merlin VSM-Ms, Silversmith ICs), its just about perfect.
I have to admit I am surprised to read others commenting that this cable was "closed in." Does it have the most extended top end I have ever heard? No - that distinction belongs to the Silvermiths. But closed in? I can't picture it, based on what I hear in my system. I suppose there must be some system matching issues with this cable, and I have to admit to being curious to see with which components others are using it.
In particular, Jafox, what components did you have in your system when you did your demos? Your characterizations sound pretty accurate to me, except I had the opposite preference with respect to Aqueous v. Opis - I found the Opis, while a touch more extended at the frequency extremes, to be muted in dynamics and subtractive of low level information in the midrange - as a result, while it is a good cable, I never found it very involving. Thus, I am betting you probably have components that tend to sound more on the yin side, whereas mine are more on the yang side.
Also, I have to echo the above comments re: break-in - these cables certainly need at least 150 hours of break in, and probably closer to 250. Fresh out of the box, it lacks a bit of coherency, images sound overblown, and the bass doesn't have that full measure of extension.