Jim,
Unless you need the SS DAC for a separate subwoofer, get the older M24, the one with a tube DAC only. I love it, but find the line stage not quite to the level of the DAC.
Everything else the same you think? Thanks. Que paso, Val?
There are a few other differences......There was a short review by the folks at Affordable Audio years ago.
PDF download of AA issue with full reviewExcerpt of AA review Monarchy NM 24 DAC/Line Stage, By John Hoffman:
The owner of a NM 24 now has the ability to choose between two different DAC configurations, both of which give a different presentation to the music. To put it quite simply, Monarchy has found a way to offer a highend digital analog converter that can be configuired for either solid-state or vacuum tube output. Monarchy has also upgraded the D to A convertor chip in the NM 24 to the Burr Brown PCM 1704. The previous generation machine was built around the Burr Brown PCM 63, which has been taken out of production. The PCM 1704 has a reputation as a high quality chip set, but Mr. Poon decided go whole hog, and has installed the Select grade of this chip. Burr Brown performs a series of tests on a production run of PCM 1704s, and those chips that are the cream of the crop are given the Select designation. This Burr Brown chips allows for true 24-bit word length, so the NM 24 is capable of authentic 24/96 performance. Even though the PCM 1704 gives this DAC the ability to play a high-resolution format, the real value of it can be heard when playing a conventional Redbook format disc. This chip set is capable of preserving the purity of the data stream, which is responsible for the NM 24s ability to reproduce the subtle nuances of a performance. The PCM 10704 Select chip set is the heart and soul of this player. If you do a bit of research you will find that this chip set has been used in machines from Wadia and Boulder, which have been considered to be some of the finest digital pieces ever produced.
Other than these two changes, the NM 24 circuit is essentially the same as the M 24 D to A converter. Mr. Poon installed a few minor refinements to the unit, such as larger toroidal transformers, and an upgrade of a few capacitors in the unit, but these are essentially refinements of a proven design. The circuit layout of the pre-amplifier is carried over from the previous generation.
Cheers, ed