hi john,dont take this as a stab at you,ok,but i believe receivers sound different.As you said in your last sentence,---So yes, of course very high levels of noise and distortion, along with big frequency deviations could be heard, but they don't occur in well-designed equipment, whether it costs $200 or $2,000.---wouldnt you say that different receivers are designed differently,and somwhere down the line,one would be not so well- designed as the others resulting in a different -or -not as good sound as the others?...is it possible for one receiver to have more output in the higher freq or lower range than the next?...ron