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The price reflects the aesthetic condition but functionally its as good as the day I bought it. Having met Morrison personally he wasnt kidding when he said he didn't want any of these things going back to him. Its built military tough, and is still the quietest preamp I've ever had. The inside still has the new electronics smell it did 15 years ago. I've installed dexa discrete opamps in it but you can swap the ad797s back in if you want. Or play with other single channel opamps of your choice.