Well, after an impulsive xmas 2nd hand purchase I am now the proud owner of an FM acoustics 122 phono stage (anyone any idea how much they cost new?). While the Borbely unit with the stepups added was pretty good I still felt something was lacking. The new unit - even with incorrect cap and resistive loading and without the stepups - shows the old setup a pretty clean pair of heels. Cant wait to try it with the stepups given the improvement they made to the performance of the borbely. First impressions are of a much more precise and dynamic sound with a pounding bass and a much clearer treble, even just after an hour of warm up. Now if I can just get the dac sorted... that bel canto isnt a patch on my broken de capo.