Right guys I held
@Ninja_Theory 's Loxjie P20 in a prisoner exchange this week. It is more substantial than I thought and nicely built. Not luxurious but nice. On the sound side I plugged in HD 800 and played it for a day. I have to admit I had low expectations but those were very well surpassed. It is fairly punchy and powerful and reasonably even through the frequencies. I felt some hardness keeping in which I put down to PSU artifacts (my 12V regulated PSU doesn't deliver enough current so I couldn't test the theory). Overall quite listenable on the HD800, less so with low impedance Focal Elear. ABing is a mission ... The 1/4" out sounds small and flat compared to the balanced XLR so you need to swop cables when comparing to an unbalanced amp. So after a day or so I changed over to the Perreaux SXH-2 and immediately heard more of the music portrayed in a more natural way. The P20 paints with a very thick brush and looses a lot in the process. So much so that I don't think I'll be able to discern 320 MP3 from Redbook on it. Clearly very significant compromises where made to fit valves, balanced, input select, output select and digital display into the very keen resale price. This was underlined when comparing to Craig's original Little Dot One from around 2005. It has 6 dainty valves but no balanced on or out, and no digital readout. It doesn't even have RCA input! But like the Perreaux it gives you more of the music in more natural way. It was crazy good the HD800 I thought.
The Loxjie P20 is remarkable in what it has achieved at its chosen price-point. It has a good feature set and sounds "good enough" for most uses and users. But it is not better than budget valve amps that has gone before. And it underlined again that balanced is not a goal in and of itself but rather a means to an end.