From reviews I read:
The new XP-12 starts with a new power supply. It uses an efficient toroidal design with both an electrostatic and Mu metal shield along vacuum impregnating and epoxy fill. This makes a very quiet transformer both electrically and mechanically. The power supply circuitry is also quieter and has additional filtering. The XP-12 uses a single stage volume control borrowed from the XS line preamp. This gives one hundred 1 dB steps with lower noise and distortion while removing some signal path parts. This redesigned volume control results in greater precision with a more luxurious feel.
The gain circuitry continues to use our favorite transistors from Toshiba but has a higher biased output stage similar to the XS Preamplifier. This makes longer and multiple cable runs easier to drive and gives the advantage of simplifying single ended output circuitry while increasing performance. Overall this makes for a quieter, more neutral, musical and versatile control center for your system.
I imagine you might be reading this note wondering if the XP-12 sounds better than, the same as, or not as good as the XP-10. And the answer is yes, yes and... . For those that want the Wikipedia answer, the XP-12 seems a distinctly more refined preamplifier with a yet finer granularity—or so I imagine as I hear no granularity with either. Granularity is perhaps the wrong word here, as that implies a detectable granule, and I did not note any. Perhaps it is instructive to say its liquidity was less viscous and obscuring? Think of the XP-12 as better educated, more refined, and more worldly if you will. It sounds very similar to the XP-10, but the Stygian and cavernous bass of the XP-10 is less immediately evident—it remains, but it walks through the door more surreptitiously until thundering feet announce themselves.
Metaphorically, one might say the XP-12 is Catherine Denueve to the XP-10's Raquel Welch, both very attractive in different ways, with the latter having more... obvious charms. The slightly more "obvious" bass characteristic of the XP-10 will appeal to listeners who partake of electronic music, which features deeper bass than acoustic instruments produce. And, the point of deep bass in electronica is to be noticed and experienced as force, which might give a nod to the XP-10. It occurs to me the bass performance is as good with the XP-12 as with the XP-10, but it's just not as obvious. However, for those inclined toward acoustic instruments and their realistic reproduction, both would be great with me giving a nod to the XP-12.
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