I tried quite a few preamps before selecting the PV-12. The key factor was the inclusion of a phono stage. I just thought this preamp sounded like the real thing. The other preamps I tried (Naim, Classe', etc.) were either dull or fake. The preamp is easy to use and a pleasure to look at. CJ is always relaiblw when selling preamps. This another classic product.

Clean sound, no grain

total lack of air and very anaylitical for a tubed unit, well any unit for that matter

I have used this product with a large number of amps and cables in many radically different systems and setups, I don't think it will keep up with alot of the better tube units on the maraket. I don't know what brand of tube they are running(GE or Russian decent) but it all of the pv-12's I have heard had a very mechanical presentation that just pulled from the music. The various pv-10's I have heard don't have this nasty coloration, but they are quite grainy in comparison. I much prefer the old pv-11 and they can really shine with a nice tube upgrade and a little tweeking.

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lots of calss a silod state units and tube preamps, outputs from theta pre d/a, passives...

I've bought a PV-12L (without phono) to explore how tube preamp sound would affect my single-ended solid-state power amp and my CJ MV100 power amp. The unit was for USA market, so it had to be converted to be 230 V compliant, which, based on the indications I've got from Conrad Johnson, took about 5 minutes and needed some soldering (they indeed have really excellent customer support). Before that, I used it with a downconverter transformer. The sound was noticeably different when fed from 120V and 230V, respectively. With 120V sounded brighter and leaner, from 230 V more relaxed, natural, more dynamics, ease, but a little bit more hum and hiss. Of course, the difference was due to the quality of the downconverter transformer. I noticed the premium quality of internal components, wiring, capacitors, pots, switches etc, and the circuit topology is more thoughtful than let's say, in the older MV-100 amp (which, regardless of the relatively messy internal structure, has first-class sound).On the sound quality: being adept of the "best preamp is no preamp or just volume control" philosophy, I used before a Mod Squad Deluxe Line Drive. Now I know that there actually are _good_ preamps which help recreating original macro and microdynamics, ambience, attack and decay, spacial and musical coherence of the original music. Overall, the soundstage is better defined and is more transparent, airy, natural. Cymbals, trumpets are much closer to original instruments' sound and, what is more, one can hear such small details like the reflected sound from the room's walls where the music was recorded. Good example is the original Carmina Burana (medieval monastery music collection), which has been recorded on different places: the acoustics, reverberance and size of the rooms was coherently rendered.
The PV-12L pushed to the limit of its performance also my Class A solid-state
Marantz SM-8 amp, especially in the bass quality (not quantity). But the CJ MV-100 tube amp sounded a lot more like live music.
It still is not perfect, e.g. background silence is not so "deep black" than some of the best, and there is some mild hiss which is not audible from listening position, but sonically it is very close. Upgrading my source as well, I had the feeling the PV-12L still has huge "reserves" of sound quality which can be exploited with the highest quality sources and interconnects only. At this level of performance, a good combination of interconnects/speaker wires can help more than changing a component, so the accent is on making the system sound coherent. Technically, I think the power supply, pots and circuit topology could be further optimised, and for that, the Premier 14 would be the next candidate, for more than twice the price. However, my next experiment probably will be a battery driven dual triode design. Until that, the PV-12L deserves 9/10 rating,
where the Mod Squad Deluxe would get 7/10.

Completely transparent sound. Excellent soundstage. Very simple yet impecably well made design.

None.

For the audiophile who can't yet afford to buy the real esoteric equipment. This pre-amp impresses me everytime I listen to a CD. Does not have the grainy sound or loud hiss some people associate with tube equipment. You do need to leave the pre-amp on to keep the circuits warmed up, or else be ready for some high pitched hearing test tones throughout your listening session. I leave the pre-amp on all the time, and I've found that after-market tubes will last about a year.
This is the price you pay for having a tube pre-amp, but after listening to it I don't think I'll go back to solid state. The soundstage is extremely lifelike. I've even used this pre-amp to play some DVD's. I've never heard movie dialogue and background music sound so good (the explosions were also cool). Keep this pre-amp paired with similarly priced amplification, digital source, speakers, and some decent interconnects and you can't go wrong.

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Acurus, B&K, Lexicon, Proceed