I had the V200 (got the wrong version with the USB so I sent it back - will get a new one next week or so) for a few days. Upgrading from an Icon HDP. While of course any comments based on a few hours shouldn´t be taken that seriously, I can say it sounds VERY different. The Icon HDP is closer to being a lean, mean machine. The V200 (apparently, never heard a tube amp!) has a tube touch, it´s smooth, pleasant. Non-fatiguing. I found the change very nice, as the Icon HDP made me tired after listening for 30 minutes (HD800). Judging from german reviews, board comments and my own brief experience, I would say the V200 is in a completely different league than the Icon HDP´s headphone amp section.
Once I get my new DAC I can do some Icon HDP vs. Audio-GD Reference 5 DSP + V200 comparisons for you if you are interested.
EDIT: that doesn´t change the fact that the Icon HDP is a great product and fantastic value imo... It´s not fair to put it against a 1000+ dollar dedicated amplifier though :) My Icon HDP is now serving as a DAC+preamp to two active speakers, doing a fantastic job! It´s a perfect swiss army knife for audio.
Edited by vrln - 8/30/10 at 1:32pm