Lots of good thoughts by the others above. Like several of them, I too am not clear on a number of things, especially whether you have performed the usual troubleshooting procedure for problems that affect a single channel. Namely interchanging connections between the two channels at various points in the signal path (with power off while the connections are being changed, of course), to isolate where in the signal path the problem is arising. Also, as Newbee asked, when you said:
When the Parasound was returned it didn't short, at least, but I'm still only getting 1 channel out of the system.
Which amp were you referring to, the loaner or your own?
Another question: When the dealer checked out the Ayre preamp, do you have confidence that they checked the RCA outputs (which I presume you are using), or might they have just tested the XLR outputs?
Also, if by any chance, and for whatever reason, you are using the Ayre's XLR outputs in conjunction with XLR-to-RCA adapters let us know, as the output stage of the preamp might be unhappy with the fact that most adapters short the inverted signal on pin 3 to ground (pin 1). If you are using such an adapter it would quite possibly explain why the preamp works for the dealer but not for you.
Another thought to keep in mind, in addition to those that have been suggested: Perhaps one channel of the Ayre is not functioning at all, due to a failure at some point in its internal signal path, and the 5% signal you are hearing in that channel is crosstalk (leakage) into that channel from the other channel, occurring either in the power amp or at some point in the Ayre's internal signal path that is downstream of the problem location.
Regards,
-- Al