The only difference is recently Schiit started pre-bending the leads attached to the tubes in the Vali that "supposedly" help reduce the ringing caused by microphonics but it definitely doesn't eliminate it. I know this because I have a recently built Vali and can attest. Anyone who says there isn't any ringing or has eliminated it is lying.
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So what's the catch?
Compared to Magni? Several. One, Vali's ultimate power output is lower, so it's less suitable to orthodynamics and other hard-to-drive headphones. Two, many tubes, including the ones in Vali, are microphonic. When you plug in headphones on Vali, you'll hear a little "tiiinnnnggg...." noise that takes quite a while to go away. If you rap the chassis, it will do the same thing. If you work on, say, a paint shaker table, Vali's not going to be the best amp for you. Three, tubes also have a lifespan, though Vali's tubes are expected to last 10,000-20,000 hours--which is 7-14 years of listening 4 hours a day, every day." - FAQ
http://schiit.com/products/vali