Audio Research Ref 5 preamp

It really doesn't matter to me if they are able to build it for less money. What matters to me is;were they able to make a significant improvement, I think they did. Further refining and improving something great must be quite a task for R&D there is a cost here too. I can't tell you how many times I've tried to make improvement tweeks in my own system and wind up making it worse . My hat's off to them on the Ref-5. The 2k increase in price is well worth the benefit.

there 'ya go --- happy listening!

to answer your question. I believe the Ref-5 has a more organic sound to it that the Ref-3, less electronic.

Interesting. I never noticed any "electronic" artifacts in listening to the Ref3 (or any ARC tubed gear for that matter). I am not sure what you mean by "organic".
OTH, I might be interested in the bass and mid-base especially where I think there may be at times some unwarranted "warmth" in the Ref3. The ref 2 by comparison has what I would call some bloat in mid upper base. I never cared much for the Ref2 Mk1, the Ref was a major improvement.

Okay I would like to jump in here and provide my 2 cents.

I'm a happy owner of the Ref3 for many years now and reading replies here some I must say shocked me and suggest I gotta just get this new Ref5 because it's just that much better than my Ref3. I don't know so please don't start getting all defensive because I have not compared as of yet in my set-up but reading I decided to visit my dealer who is a long time ARC dealer on the intentions of actually buying one. This specific dealer is one of the oldest and I have known them for over 20 years now so one would think that they would know.

I was told today there are sonic differences but very slight, one might prefer one over the other depending your system but most defiantly not night and day. I took a peak inside and saw the design layout, how the heck can these guys justify charging more then the Ref3 list price when it's less work etc.

I will get one into my set-up some day to compare but now I'm not in such a hurry!