The theoretical benefits of balanced audio interconnection schemes are discussed as well as fundamental but widely unrecognized mechanisms that limit real-world performance. The venerable audio transformer enjoys several inherent advantages over the so-called active circuits offered to replace it in audio equipment. Today, as improved digital recording systems demand increased system dynamic range, these advantages are becoming ever more important.
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https://aes2.org/publications/elibrary-page/?id=7944
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