Doug, some of Wig's stuff I think comes from some e-mail communication with me. I have the CD5. To this point, I prefer using my EAR 868 preamp instead of the CD5's built in unit. With the gain set on "high", I still have to push the CD5 volume control to -45 to get the volume I want (max is -60). With the gain on "medium", running through the EAR, it's all I can take with the volume knob at 10 o'clock. So, yeah, I have some gain issues with the CD5 preamp...or maybe the gain on the EAR is super juiced. At any rate, I seem to get a better soundstage and imaging with the 868. I may be biased, though, and my "test" situations are not perfect- cables are different. Need to do more blind testing with the same cable set up, but at this point, I like the sound better with the EAR 868 in the circuit. That's not a slap at the CD5's preamp, which I could easily live with. The 868 is a well received, quality tube preamp. It's essentially the EAR 912 with some minor internal markdowns and a different chassis, with a few less features. The 912 bested the ARC Ref 3 in some reviews. So, the 868 is no slouch. Sonically, I think it's better than the preamp in the CD5. Build/quality control/customer service? No contest. The Ayon absolutely smokes the EAR.
For what it's worth, Doug, I take your opinion quite seriously. I know Audiojudge quite well, and have the utmost respect for him. He raved about the CD5, and your Dagogo review of that unit pushed me over the top to purchase it.