Hi Steve,
It's not that easy to tell you about things like that in english, it's not my mother tongue

But i'll try to express myself in the most proper way...
Let's say i had a SP1.7 (for 2 years), a MC12 (for 3 monthes), an AVP2 (for 3 weeks) and then a SP2 for a week...
So, it's not that simple, i didn't discovered the SP2 yet, just "feel it" if you understand what i mean...
Anyway, in a stereo way, there is no better pre than the SP1.7/SP2 (or you have to spleet things, a 2 channel system and a HT system), the analog stage is a wonder that not even the AVP2 can beat. The MC12 does a wonderful job, but it's too much analytic and neutral, a bit cold and there is something missing that James and his folks found with the SP2

Let's say the Bryston does know music

The MC12 goes further in the analytic way (i heard unbelievable things with it !) but doesn't make your tears to come...
The AVP2 is just perfect, a bit soft, but as i said before it is the most enjoyable pre i have yet being with.
It's always easy and cool. It shines on every part, stereo and HT and is a wonder of equilibrium...
On the HT thing, there is no way the MC12 can be beaten, sorry James

It is just HUGE...
The calculating power of that thing is insane !
It is the faster pre i have heard to date...
In multichannel, everything is a wonder, bass is phenomenaly integrated (is this right in english ?), clarity is at his best and everything feels real. It is terrific in terms of emphasis and reality !
I believe only the N°40 can give you something higher in terms of performances (i should hear that one too very soon my retailer has sold some

).
BUT the good part is that the SP2 seems to have inherited some of the big power capacities of the LEXICON pre and reveals a wonderful analytic behavior (the nuances James was talking about). It is a bit slower than the MC12 but for me it shines so much better in the 2 way that the balance goes for it.
Understand me right, if you want an ultimate HT, go for the MC12, it will damn you but if you want the both worlds in one... here you go !
The new SP2 gets what i hoped it would have, the very impressive HT force of the MC12, the right equilibrium of the AVP2 and it's own wonderful 2 channel analog.
What can you want more (apart from EQ, HDMI 1.3 and native DTS-HD

, but James is handeling this for us, isn't he

) ?
I'm pleased with it, you should be...