mojo, you say you calibrated the speakers but you never stated how. That switcher does not look like it has any gain adjustments on it.

In regards to the comments on the M3s vs M22s, a similar such comparison happened today when i demonstrated to lostmykeys the sound difference between a Tannoy Revolution R1 and the Angstrom Legato.
Recessed vs. forward speaker.
Three preferred the Angstrom, one preferred the Tannoy.

"Those who preach the myths of audio are ignorant of truth."