After listening mostly to the Dream the past few weeks, I can say the timbre or tone accuracy of this IEM is exceptionally good. I expected it to sound V-shaped, and more coloured due to the bass initially. I don't really know much about 'reference' sound. But the tonality seems to be pretty balanced, not too dark, nor bright. The midrange positioning could be better if brought a bit more forward though. But the spacing, lighting of each notes are very good, and satisfying. The Prelude unfortunately has gotten less listening time because of this (noo). What the Prelude is very good at though, is its treble, presentation and smoothness. It presents acoustic music with high flair, and effortlessness. The Dream has more speed, and sparkle. Not to mention bass.
But it also has a small peak in the sibilance range (~7 kHz?). Pronounciation of 'ss', 'ts', 'ch' etc. sounds more accentuated with the Dream. This is apparent when pairing with the Mojo DAC, which to me sounds kinda V-shaped. Paired with a more neutral source, such as DP-X1 or laptop however, the sound becomes much smoother, and more natural. It never sound fatiguing, or peaky to me. I'm liking the Dream a lot more now, especially for listening to electronic music. I also really appreciate acoustics and vocals on the Dream too, although not as good as the Prelude. The soundstage is also bigger, which contrasts the Prelude cozy, and more intimate size.
BTW, I wonder how does the LPG sounds? Because some of my friends who tried the Dream with it seem to dislike the two together. I'm interested in trying the LPG, and Sony WM-1 DAPs in the future. Maybe during next CanJam visit..
Hope to see Deezel again too, I bet he'll have a lot more gears by then. No pressure!