I had a similar situation when I initially plugged the Matrix Refs into my system. Try the Matrix Refs in the pre to amp connection instead of from the CDP to pre--that may help a lot. If sound is still overly fat you should try a pair of Silver Refs that may be more appropriate for your system(I'm pretty sure AZ offers a 30-day money-back guarantee). I use Silver Refs from CDP to pre and Matrix Refs from pre to amp, which produces the best combination of natural upper-frequency detail, midrange fullness, and bass control in my system. Since we had similar experiences with the Matrix Refs this may end up being a nice combination in your system too(mixing AZ and Silver Audio cables may be causing problems too). Best of luck.
Tim
Tim