I've had one of these for some time, and it is an amazing bit of kit! Great analogue bypass gives two channel sound on a par with many high end preamps, and the av side works really really well, managing to sound natural and unforced. I bought the original avp after comparison with an Arcam AV8, which sounded really harsh compared to the proceed. The AVP2 is far better than the avp, with much improved bass, and a see through treble. With the latter, the dacs are similar quality to my Wadia, in that Ican happily listen using either the avp or thewadia dacs.
have you seen the (LONG) thread on avsforum?