John, you'll probably want to visit the digital section of AudioAsylum as well to get a broader Meridian-user audience.
Geek: I'm of the (snobby) opinion that it isn't worth upgrading much for the sake of techno as it's a simple bass-driven style of sound. For rock, the Meridian does a great job with giving weight to all the instruments (esp. the bass drum, the lower registers of the voice, the guitar) as well as providing wonderful decay. There's a great sense of air around instruments -- for rock. Rock uses electronic sound projection which is a great drawback in my opinion.
With classical and jazz, as you note, the Meridian just shines. I listened last night on my system first to some of Visotskiy's music -- he's a Russian "bard" (singer/songwriter) and kind of folk hero. The CD to which I listened mainly had acoustic guitar with his voice, sometimes with a bass in the background. The huskiness of Visotskiy's bass voice was reproduced powerfully and really drew me in.
Then I changed the CD to play some Chopin mazurkas, recorded by the legendary Artur Rubinstein (on RCA). The recording quality of these CDs is sometimes questionable, as many are old and some of the performances are even recorded in mono. These mazurkas, though, have at the very least decent quality which goes well with high-end audio systems.
I was just amazed. I hadn't listened to any of the Rubinstein recordings on my main headphone rig for a while as I didn't have them at college since 2002 and I just didn't get a chance since coming home. But it was just wonderful. The natural sense of air that the Meridian imparts to the sonic image of the CDs it plays really worked well with the great decay, while the musically powerful bass reproduction really seemed to stir me inside, especially when combined with the sweet yet detailed treble. I was so moved I couldn't believe it, and I recognized that a big part of it was really the sound quality. It was as if the soul of the music was being brought out. Basically, that's what I would call "musicality."
I haven't had a chance to get a long listen with many high-end CD players, but the Meridian that I have just seems to have a near-perfect balance about it. It resolves well, but balances with a natural and smooth sound. Its bass reproduction can be deep, tight, and powerful, but not over-powering. It can move fast and reproduce a wide dynamic range faithfully without losing its delicate ability to let notes decay naturally.
Really, my impressions of the Meridian haven't changed much at all since I first got it, and that's something that just stuns me. It never ceases to prove itself to me. The addition of an after-market powercord a while ago did help to a noticeable degree in clearing up the areas that are tilted a little too much to the euphonic (tightened and deepened bass, cleared up highs a little, brought out some more dynamics) but it kept the same general character.
Sorry, I guess this is turning into a Meri love thread, huh.