Thermionic valves have a lot going for them as a rule - if the amp is built right and has even harmonic distortions, it's generally a bit warmish, but smooth, mellow, without any of the harshness or sharpness that plagues all but the best designed transistor amps (example, Krells, Mark Levinson, mostly running in pure class A mode). Cheaper valve amps seem to have odd hd and are sharper, more like transistors in some respects. Some say valve amps have a chubby bottom end (bass) and a overly warm and rounded top end - none of the valve amps that I've heard have ever exhibited this. The best sounding amps I've heard have all been valve. The nearest thing to it was a pair of Mark Levinson No 31 monobloc amps. mmm yummy.
Old isn't necessarily bad. People quite often make that mistake.
Dave
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