I have the Panny 55 - was literally $200 shipped via Amazon.
It's receiving a sony C2000ES changer's optical line out - all processing done in the digital domain.
Powering a pair of Tekton Design speakers using the fullrange Fostex 127 driver.
Better cables silver serpert digital cable and DIY magnet wire speaker cables (preferred them to anticables in this application) - wiremold powerstrip.
Obviously a budget system, but one designed for clarity and vocal reproduction and the panny kills everything I've heard anywhere near the price range. Maybe that's because it's simply taking the digital inputs, maybe not.
The 55 has a "bi-am" and "dual amp" setting, which seems to increase power - some guys on other boards are using them to power maggies very nicely.
The panny is, as I understand the talk on the boards, the only true all digital amp as opposed to the JVC, Kenwood, Sony, and even HK "digital" amps.
The panny reminds me of a Xin amp in a lot of ways, air, etc.
They don't sound bright but very, very detailed (which might appear bright to some compared to whatever they may be using) with a huge soundstage.
Don't believe cables change the sound, use one of these with some small fullrange speakers!
Couldn't be happier and can't recommend it enough.