Price Paid:  $350500.00 from Lees Bars Stools and

Summary:
I have an XT and the XT20. I really think they both sound alike. There's lots of hoopla about how the 20 bit coverters are better, but really peoplez...they sound alike! They're very easy to use - it's very much like a multitracker. Another plus is the tapes are cheap (VHS S) compared to my 8 track 1/2" analog system.
Also - when purchasing an adat, be absolutely sure to check the drum hours (head to tape hours) I've heard of adats lasting up to 6000 hrs, but shoot for low hours and good maintenance. Ask questions when buying any used gear!
The xt 20 is a great deal on the used market - get one that has low hours and good maintenance!!!!

Strengths:
Great user interface - easy to use. Sounds fantastic 16 bit or 20 bit.
Tape is amazingly affordable.
Rackmountable

Summary:
While it can be said that the days of analog are numbered with the ever improving advances in "digital". I still for one will not eliminate the reel to reel and cassette machines from my studio. I must say however for the convience of editing and creating without any generation loss(digital domain of course)is a tremendous advantage. Sync with other sources is "sample" accurate. So SMPTE,MMC etc. is a breeze. Which brings us to the ALESIS XT-20 ADAT format modular digital multitrack. This machine uses S-VHS format tapes. 8 tracks to play and record with. Special features abound on this unit. Bouncing tracks is a breeze,delay,and machine offset is easy as pie. Since this unit is modular,up to 16 ADATs maybe linked without any addtional syncronizers. However the BRC(big remote control) is advised for use when doing this. While I just bought this unit. Break in and familiarity with all its' functions are essential to get the most from it. So far, the unit does everything I asked of it and without any surprises. The sound is clear,and is less harsh than 16-bit systems it replaces. This unit uses discrete converters for all channels. 20 bits in and out. The unit runs in the +4db and the -10db world just fine thanks. RCAs for the -10db,and the EDAC connector with the snake terminating with the apporiate TRS connectors. I am pleased with the build quality. The die cast aluminum chassis and thick brushed aluminum panel show a bit of class as well as strength. To early to comment in depth on its audio performance,but more will come soon. So on prelimnary setup,it all looks good. Specifications as follows:

20hz-20khz +/- .05db freq response.
102db dynamic range with 20 bit mode
more specs to follow in subsequent review. So far this machine is a total winner in my book.