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FWIW, i currently own the PHA-1, and owned/sold the PHA-2. i love my PHA-1 and will probably never sell it (it was one of the first portable amps that would allow the bypassing of the iphone/ipod internal dac through the LOD), and the sound is really great. it pushes my hifiman he-500's well, and was my desktop setup at work several years ago. the price has def climbed a bit recently, and i cant speak to whether this is worth the money, but i had to give some love to its predecessors. very well made units, and i am happy with them!
Similar experience with the PHA-2, but I did just sell it due to owning an Axon 7 and the Sony amp collecting dust. The Axon sound quality is excellent.
The PHA-2 was EXTREMELY well made. One of the best portable audio devices I've ever owned, certainly from a build perspective. It sounded wonderful as well.
That being said, these things are expensive compared to other portable amps with similar performance (Mojo).