I own a Ref 3 and IMO it is simply the best preamp I have ever owned. Prior to that I owned a Ref 2 MK ll which I thought also to be excellent but when put up against the Ref 3 it sounded broken.
Those who pontificate about preamps rate the Ref3 as one of the top 3 in the market today--the other two being VTL 7.5 and the CJ ACT 2. Bear in mind that ARC recently did a rolling line change on the Ref 3 by adding 4 bypass caps and switching from the 6L6 tube back to a 6550C
Here is a look at the Ref 3 in my room
http://forum.audiogon.com/cgi-bin/fr.pl?vaslt&1049587927&read&3&4&
http://homepage.mac.com/imacdoyou86/PhotoAlbum52.html
Those who pontificate about preamps rate the Ref3 as one of the top 3 in the market today--the other two being VTL 7.5 and the CJ ACT 2. Bear in mind that ARC recently did a rolling line change on the Ref 3 by adding 4 bypass caps and switching from the 6L6 tube back to a 6550C
Here is a look at the Ref 3 in my room
http://forum.audiogon.com/cgi-bin/fr.pl?vaslt&1049587927&read&3&4&
http://homepage.mac.com/imacdoyou86/PhotoAlbum52.html