At the outset, I own separates and prefer that setup. However, my opinion is that given the same power capabilities and distortion specs, a good integrated will sound as good as separates - for example I doubt that anyone could tell the difference between the Mcintosh 7000 integrated and their model 120 preamp driving an MC252. The separate power supply and noise differences that may have once provided for different performance have been eclipsed by better designs. While that presents my opinion as to the OP's question, I would add that there are other reasons for going with separates. A couple. First, you have more control over your system when it comes to upgrades/changes. Second, integrateds limit your power capability - while there may be some out there, I cannot think of any 500 watt integrateds.
