To make a long story short, they are both fine amps, the Airist is built like a tank, but I think the ZOTL has more detail, is more visceral and exciting. Having said that, the Airist has a certain analog ease to it that is seductive, sort of warm, cozy, like a fuzzy comforter. It does have a "rightness" to it, for lack of a better description; a cohesiveness that is very relaxed and appealing. An analogy that sort of gets this is of a Lexus' soft, smooth, quite ride, compared to a Porsche's exciting kind of ride (Airist being the Lexus, natch). I can also see that matching gear may make a difference here...I sold my Q701, but I can imagine that maybe being a better match for the Airist, or something like the Senn 800, things that are said to be hot on top. I did find it a pleasant, comfortable listen, nice sense of space, but in the end (and being used to the ZOTL sound probably plays a roll), I'd stick to my ZOTL. The Airist did have a nice, warm, cozy feel to it, and was very enjoyable to listen to, but I mostly missed the detail and punch of the ZOTL. I do thank Airist very much for the opportunity to do the audition and be part of this tour.
Doctorjazz, I was just starting my review and I realized you pretty much summed up exactly what I was going to say. I listened with my Q701 and indeed it was a great match. It takes off the piercing treble and adds a layer of warmth. I normally listen with an O2, and it doesn't address any of the AKG's flaws. The Airist addresses all the flaws in the AKG. The Airist even seemed to add a little soundstage, although its likely that I'm just noticing it more because the treble is subdued. The pitiful Q701 bass wasn't helped much, but I've never been a bass head anyway. Interestingly it didn't do much to cut down on the fatigue I get from the Q701's. I've never heard an Anaxilus modded HD800, but this would be an awesome amp for the stock HD800. I've never been very impressed by the HD800, but I believe it is mostly due to amp matching issues. It needs a well matched amp even more than AKG's do. Just browsing through the Airist website, the founders seem to be people who would do their research before starting a project. I'm curious if the Airist wasn't built using the ideas/specs/etc of amps that paired well with the HD800. It's likely the most popular flagship ($1000+) in the world. It also seems to be one of the most amp sensitive headphones as well. They might have seen a big need and went after it.
The good:
1. The build quality. It's not an extremely polished amp, but it's definitely solid. The only accessory is the power cord and even it feels like it belongs on a $2k amp. Also, the pot is pretty sweet. It dominates the front of the chassis and has a lit red line to signify the level.
2. The sound. This is a very warm sounding solid state. It's just what AKG fans (and presumably Sennheiser fans) have been looking for. It isnt a "tubey" sound, but it still manages to be warm. Also, keep in mind, this is still a solid state amp. The differences between this and my O2 are much smaller than the differences between this and a typical tube amp.
The bad:
1. The price! Obviously this is the elephant in the room. There are a lot of very good amps in the "less than $2000" range. In fact, there are only a handful of amps that don't fall in that range. Airist is risking a lot attempting to sell $2k amps. My best guess is that they have another cheaper amp in the works. If this amp was $750-$1250 it'd be a great value! At $2000, it's asking a lot. Even the $1500 BF special is slightly overpriced.
2. Features. It is missing a lot of features. The most unfortunate is the lack of a balanced output. Most in the market for a high end amp are probably already running a balanced setup. This is a fairly major oversight. RCA outputs, a true gain switch, etc. are also missing. Although, those wouldn't be a deal breaker for me.
3. Style. It's not an ugly amp, but it is fairly plain. I like the design, but it doesn't scream expensive. Some amps get away with being plain because they are cheap. This isn't a cheap amp.
Wrapup: This is a great amp! If some of the more expensive to produce parts (chassis, power cord, etc) were made a little cheaper it would be even better. At $1k I'd forgive the balanced output and simple chassis. At $2k I'm a little hesitant to commit to the Airist. If you have an HD800 or AKG give this amp a listen. If it's the perfect fit, the price may be forgivable.
Thanks to Airist Audio for giving me a chance to listen to the Heron 5! I love your amp and I wish you the best in the headphone business.