I would like to thank all the good folks on here for all the help extended. Have heard some great advice and tips which have helped me learn more about stereo. I have finally settled on FM square_wave's fantastic
Acoustic Portrait PM-1 Pre and CPA-3 Power Amplifier combo. My search took me into some interesting auditions which were learning experiences by themselves but I will not bore you with details.
I met Vinny (square_wave) last weekend after a lot of jugglery with dates and times. I was visiting Bangalore on a weekend trip and I had PM'ed Vinny that I was interested in his AP combo. We somehow managed to get about an hour with him on Saturday morning and we showed up a little bleary eyed at his place after a long Friday night. And what an experience it was!
Vinny is as unassuming as it gets but the guy is deep when it comes to audio. He has been through the cycle (Pioneer > NAD > Odyssey > AP or something like that over the past 10 years or so) and is a wordsmith when it comes to describing audio. Just hearing him describe audio and you start wondering how he finds words to describe stuff like this which is so hard to do. Our audition with him was a front seat tour into the world of sound which we thoroughly enjoyed. The AP combo sang us some great tunes - mostly jazz but we also threw in some Indian instrumental music and some Clapton. Interestingly my wife and I didn't make a conscious decision to buy but we both knew the AP were the real deal. We were a little unsure how much of the sound was as a result of the AP combo or his amazing Blumenhofer speakers.
From what I heard Vinny's Acoustic Portrait combo was as good as some serious high end audio we've heard. I don't know if its worth putting a list of the gear we've auditioned but I only would put this out there to show what a serious piece of kit the AP's are. People out there please give Shiva some consideration whenever you are looking around for your next purchase. We are just extremely happy to get a Pre - Power combo of this quality right here from an Indian company. I have to thank Vinny for this.
Cheers!