Clio09, there are two common meanings of the term "balanced" in high-end audio these days.
First, there's "balanced" as it applies to interconnects, where the idea is that there are two signal-carrying conductors, each with equal impedance (though not necessarily voltage) to ground, the signal being defined as the voltage between the two conductors. Both the driving source and the receiving equipment are responsible for maintaining this impedance balance, and the receiving stage is responsible for separating the signal voltage that appears between the two conductors (the "differential mode" voltage) from any noise voltage that happens to develop equally between both conductors and ground (the "common mode" voltage). The performance of the receiving equipment in performing this task is usually expressed as "common-mode rejection ratio", which is the difference in sensitivity between the same voltage, applied common-mode vs. differential-mode.
"Balanced" or "differential" as it applies to circuitry inside the equipment usually refers to the fact that there are actually two equal (voltage and/or impedance) and opposite-polarity signal paths inside. It is possible to have an unbalanced input feeding a differential circuit, or vice-versa . . . and ditto on the output side.
It does seem that a huge percentage of high-end audio manufacturers are unaware of the distinction between these points, as it's common to build a "balanced" preamplifier by simply building two non-differntial circuits, and connecting one each to pins 2 and 3 of the input and output XLRs. Equipment designed this basically takes all the incoming noise, sometimes amplifying it, adding some noise of its own, and "passes the buck" to the next piece of equipment in hopes that it may have some common-mode rejection capability. Frequently, that next piece of equipment ends up being the speaker.
From past threads, I think that Atmasphere and I are both in agreement about the need for equipment to have good common-mode rejection. We're also in agreement about the need for balanced line output stages to have a low output impedance, and excellent performance into low-impedance loads. Where we differ is in the specifics of how to design a balanced input stage.
My main problem with the 600 ohm terminating resistor is that it places a very high current demands on the preceeding electronics, which in all likelihood will have degraded performance into a 600 ohm load. It is relatively ineffective at reducing the effects of cable reactance - this is determined mainly by the source impedance.
The 600 ohm resistor may show a slight improvement on the common-mode rejection ratio, but the same or better results can be obtained by raising the common-mode impedance instead of lowering the differential-mode impedance . . . without affecting the performance of the preceeding equipment. And the only argument left is that of transmission-line effects . . . which is irrelevant for typical (<100 feet) lengths in a voltage-transfer system.