What is wrong with negative feedback?

The typical transit time of linear amplifiers is about 2000-3000 nanoseconds, which is too slow for effective implementation of global feedback and error correction.

I think this description nicely highlights so many of the conceptual and terminological errors that audiophiles and audiophile equipment designers have about negative feedback.

Looking generically at a solid-state feedback amplifier, their frequency response before feedback is defined by a single "Miller-compensation" capacitor at the voltage-amplifier stage. It is generally flat from DC to some frequency (i.e. 1kHz), and then rolls off at at 6db/octave all the way to the point to where the gain falls below unity, which may be something like 2MHz. While the gain and the frequencies may vary, virtually every common audio opamp has a frequency response that can be described like this. Again, we're talking about it WITHOUT feedback.

Since negative feedback only exists if the open-loop (feedback-free) gain is above unity, and since the open-loop response falls off at 6dB/octave . . . the input/output phase response must be 90 degrees or less. So if we're going to talk about "transit time", how would you define that? Since we know that comparing the phase at the input the output will give us 90 degrees, the "transit time" at 100KHz will be 2500 nanoseconds. At 200KHz, it will be 1250 nanoseconds. At 20KHz, it will be 25000 nanoseconds. So it seems that talking about "transit time", or "propegation delay", or "delayed feedback", or whatever . . . is a wholly inadequate way of understanding what's going on. Rather, classical Control Theory uses phase relationships to analyze feedback.

And classical Control Theory is wholly adequate to understand the circuit behavior when feedback is applied. Musical information isn't "time smeared" from "delayed feedback", it's simply that part of the amplifier circuit operates in quadrature for a huge chunk of the frequency range (in the case of our generic SS amplifier). Just like the filter slope of the very simplest first-order speaker crossover. And this phase relationship doesn't change whether or not feedback is applied (because it's defined by the Miller capacitor) . . . the feedback simply corrects the phase response at the output.

This lagging results in ringing artifacts and enhances ODD-order harmonics which are particularly annoying to the human hearing so even the smallest amounts of these distortions are highly noticeable.

Ringing when feedback is applied is indicative of an open-loop response that is something other than a simple 6dB/octave slope, and this may be due to factors both in the circuit itself and the load it's driving. And this is indeed something that commonly can occur in the real world. But this phenomenon is wholly analyzable with classical Control Theory, and a careful analysis of the amplifier's stability. Further, this type of analysis virtually always reveals the specific mechanisms responsible for the subjective complaints associated with negative feedback.

There are good sounding components using feedback and no feedback, which is simply more proof you need to listen to the component, because the component really is an extension of the skills and philosophy of the designer, and there are good skilled designers employing both methods.

Precisely.