The Audio Research Reference 10 is here $30k

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Bif, I have a feeling your dough on the upgrade won't be a waste. I'm sure it will be money well spent. Be sure to report back with your results after you've put it through its paces.
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It is funny to read all the negative responses. Many manufacturers come out with the "latest and greatest" periodically. I mentioned in previous posts that manufacturers have to keep their name out there, and with the exception to the very poor and in my opinion totally inaccurate review of the DAC 8 in stereophile (I believe), new products keep coming out just to keep their names in the audio magazines, which won't review older products (even if they are still in production). At least that is my assessment. But, I have no problem with newer products coming out. Although in my opinion it does reduce the value of the previous products. I'm into this for the music and listening experience. I was told by many, including dealers I trust, that the REF 5 is not so much better than the REF 3 that it justified a purchase of the REF 5. However, they did tell me that the REF 5SE is that much better. I haven't heard it yet, but I will. But quite honestly, I'm very happy with my REF 3 sound in my system. Listening fatique does not exist and it is wonderful to sit and listen for extended periods of time. The same is true with my DAC 8. Before I purchased it, I compared it to top of the line DACs (including the DACs (two) that I owned) and it was better. So, if one isn't in the amp of the month club it really shouldn't be an issue with companies replacing or upgrading products periodically. As long as one is happy with their equipment.

enjoy

I do not mind subtle updates or improvements to a current offering as long as the manufacture allows previous units to be updated at a reasonable cost. I like Atmosphere’s marketing and product development model whereby previous customer can elect to have their older units upgraded.

One of my customers had a Ref 3 for quite a while and recently replaced it with a Ref Anniversary. Is it better? Certainly, but I don't know if I'd call it night and day.

I too like manufacturers who offer upgrades when they make sense, not on a calendar basis, and available to most, hopefully all owners of previous versions, and a new warranty often is provided as well. Doing so adds genuine value to one's purchase and demonstrates respect for the customer.

Atmasphere is one of the few high end companies (if not the only company) that offers upgrades with warranty. That is why they have such a loyal following.