I hate to sound like a broken record, but the Ref1 simply never did it for me vs. the lower priced LS5 II and III. And this was universal of everyone I knew who owned the LS5 or who did direct auditions of both.
For the $3500 or so that the Ref1 is selling for these days, any number of models besides the LS5, e.g., the BAT 31SE or Aesthetix Calypso just to name two far exceed the Ref1 and LS5, and still cost less on the used market than the Ref1. Compared to the above mentioned models, I found the LS25 II rather analytical sounding. But the LS 25 MK I (which I did not hear) with it also using 6922 tubes like the LS5 might be a winner.
Never having heard the Ref2 I or II, this might be the model to consider if you ultimately want an ARC product. The Ref2 Mk I was the last to use the 6922 tubes and to many people, the opportunity to try various 6DJ8 and 6922 tubes makes for much flexibility here. The Mullard is an awesome tube no matter what component I have tried it in.
No matter what, if you really like the sound of the Ref1, before you commit your money, I strongly suggest you try an LS5 as this could save you $1500 or so and you too might prefer it.
John
