I ordered just the Magni amp which came in today. Less than half an hour of listening so far.
I'm going to start with two operational complaints: (1) There's "noise bleed" at zero volume - i.e., I can hear music (although very quietly) when the volume is set to zero. Not that it's a dealbreaker, but I'm definitely surprised to hear an amp with noise bleed, mostly because I've gotten used to dead-quiet amps over the years.
The volume pot also has channel imbalance near its lowest settings, just as it turns up from zero. (2) The gain is a little bit too high to be ideal for very efficient low-impedance headphones, like the Audio-Technica AD2000.
It's only a little bit annoying to reach an ideal volume setting because of the gain. I would've liked a lower gain like 3x. It might not be an ideal amp for IEMs for that reason. In fact, I'd caution owners of low-impedance headphones to check their headphones' sensitivity ratings before buying this amp. Not sure I'd recommend the Magni for low-impedance headphones with sensitivities over 100 dB/mW, especially if using a source that has 2V output (or more).
That said, the first headphones I tested it on were my always-reliable AD2K. The specs indicated high-current capability for headphones of this type, so of course I had to try it.
My immediate conclusion so far will be both positive and negative:
+ For $99 it's an absolute steal! It makes the AD2K sound decently good, something which not all amps can really claim. (I've heard a lot of amps sonically subtract something from the AD2K.) And the chassis has a great visual aesthetic too, IMO.
- There's obviously no substituting for a Dynalo for the AD2K. While the AD2K still sounds good, the sound lacks both the accelerated forward-moving drive and extreme tightness of the Dynalo, particularly in the bass.
The Magni reminds me of the HeadAmp Gilmore Lite in so many ways - American-made, solid-state, high-current output for low-impedance loads, discrete, DC-coupled, silver in color, and in a sleek chassis that fits the "cute as a button" metaphor. It's smaller than the GL though (the wall-wart is also smaller than the GL's Elpac). Not quite as good I'd expect if I could do a direct comparison, but still very good, and for $99, I can't really fault anything at that price. Seriously folks, I've heard worse amps that were a lot more expensive! The Magni has "steal me" written all over it. I'd call it the best-value amp of all time!