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Overall condition is fairly good for what is a garage built unit. This is the four-input/two-output version. The very heavy transformers are mounted in a heavily lacquered red box with rough wooden knobs. Kinda funky, but in a good way, with a stainless steel cover (fingerprint magnet). It is not the latest version with the steel on both top and bottom. Basically, there's nothing in the box except a transformer connected to switches. Not much to go wrong or wear out with these guys. No scratches or dents, but it presents itself as jungle chiq.
You won't care how it looks once you hear how it sounds. You don't know how much damage an active preamp is doing to your sound until you hear NO preamp. The volume control knob switches the turns ratio and hence the volume, without the degradation of a volume potentiometer. This passive preamplifier simply gets out of the way of the music. You get transparent sound throughout the entire frequency spectrum, with realistic bass. It really can be amazing in the right system.
Please note, however, that a TVC passive will not be a great fit in every application. Please do your homework regarding the output impedence of your source and the input impedence of your amplifier. If the former is low and the latter is high, this should work well for you. Otherwise, you're probably better off sticking with an active preamp. You can read lots of positive user experiences on the forums. Here's your chance to find out for yourself.