Revel or Aerial

I would wait until you get your M51. There's a very good chance that you'll get what you are asking for with that in place. You're right on the preamp. Its very important to get that right or your system just won't come together and sound like it should.

The Aerial's are very different than what you have. Unless you can demo them, I don't think its worth taking a chance. It sounds like you are almost where you want to be. A speaker change may be overkill. Reading your description of your Revel's, it appears that you are very happy with them. I say don't get rid of them until you know you are replacing them with something you definitely like better.

If it were me I would keep the speakers and get some better electronics. A great preamp is indispensable in a great system and I doubt running the M51 as a pre will be as good as a great preamp. If it were me I would take all the money you are willing to spend on the Studio 2s and get a better amp and preamp especially if you say you are already nearly thrilled with the sound of the 208s.

That is one tough choice. As you're talking about buying new, it makes no sense to purchase without listening to both speakers.
I owned a pair of Revel M20s a few years ago, man those are some wonderful little speakers, and now own a pair of Aerial Model 6s. Both brands are fantastic IMO.
You probably couldn't go wrong with either speaker but a listen first seems mandatory.

I was under the impression that the M51 was on the way. If that's the case, by all means, give it a chance. If you haven't bought one yet, I agree with Ejlif's post. The importance of a good preamp can't be overstated.

Zd542,

The M51 is not on it's way, I had the opportunity to cancel the purchase. I plan on comparing the F208s to Studio 2s within the next several days. I like opinions, no matter how diverse they me be. I'm trying to hear opinions no possible was forward based on my current equipment and the fact that I want to limit how much I pay. With the sell of my current speakers the Studio 2s would cost me an additional $5300. The question is what yields the most cost effective results. It's impossible to hear every available option.