Got the 550exr back from AVA a week ago, with the spankin new rev5 upgrade done to it and thought I'd post a little bit of impressions.
Overall it is an evolutionary improvement, not a revolutionary one. What I mean is that the 550 still sounds like a 550, but with the rev5 it improves incrementally in several areas.
First is bass, definitely tighter and more percussive, I'm very happy with that. Next is the midrange clarity, which is even more transparent than it was before. A bit of softness and fuzziness in the sound was cleaned up. Not that I thought it was soft or fuzzy before, but it's one of those things that you don't notice until its gone.
Next improvement is overall integration of the sound. I'm actually less aware of listening to bass, midrange, and treble as seperate ranges, and find I just get lost in the music.
The designer of my speakers (the RM40's from VMPS Audio - Brian Cheney) visited me recently and said that my system was the best home setup of his speakers he's ever heard. The AVA 550exR and T7R were a big part of that, and with the new rev5 upgrade its just gotten better. So, thanks Frank for making truly world class gear at real world prices. I wouldn't trade the sound I'm getting now for anything.