Pubul57,
An audio buddy of mine tried the Ref 3 and did not like it (in his system). Two of my other friends had both upgraded from Ref 2 to Ref 3.
My friend shared with me his lengthy discussion with ARC regarding the use of the super tube (6H30). He currently uses a pair of BAT VK-75 monoblocks and had some discussion with Viktor at BAT who has been a champion and, I dare to say, an authority on the super tube (6H30). I think through the experience of switching Ref 2 and LS-25 from 6922 to the 6H30, and developing the Ref 3/PH7/LS-26, ARC has been gaining some experience and better understanding of the super tube (6H30) and how to best implement designs based on this tube.
I suspect that Ref 5 was a result of that experience gained. It's nice to see companies continue to push the advancement. But damn, I need to win the lotto just to keep up.
FrankC (still using his trusted GNSC modded LS-25 Mk I)