PS Audio Stellar Phono phono preamplifier

We usually save the question of value for the end of a review, but this time it's worth mentioning up front, if only because PS Audio has been in the news lately. Late last August, the company announced they were switching from a traditional dealer network to a factory-direct sales model. So, to some readers, it might seem fair to judge the brand-new, full-featured Stellar Phono Preamplifier ($2500) against ones selling in stores for $5000.