Mapman, I contacted ARC about 1 year ago when I was looking at new/used preamps and to inquire about this specifically. I was told that the SP 16 v LS 16 are two different build levels/qualities and that the linestage portion of the LS 16 exceeds that of the SP 16 by a noticeable margin. What is the list price of the SP16? What is the list price of the LS16?
SP 16 list price in 2002 was $2,495 with the phono and $1995 without the phono board (but it appears it was pretty much sold with the phono).
The LS 16's list price was $2,995 ($3,495 for the LS16 MK II version), though I don't know the specific dates for these prices.
But this correlates with what ARC indicated to me, that the SP units are not the same as the LS units but with the phono added (as that would make them more expensive than the LS units, not less expensive).
So, at least with the SP 16 v LS 16 were are not talking about two preamps with the same line stage, but one with and the other without phono.