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I must have slept thru this thread. Modern solidstate gear sounds crappy on AM for one very simple reason,they don't generate AM like they used. Good sounding AM is full carrier double sideband while the new gear today generates AM by using a full carrier and only one sideband, usually the upper side band, since both sidebands are unnecessary to convey the audio content.The result is a narrower "pinched" sounding signal that lacks the presence of full carrier double sideband AM. Whether the final is high level modulated or low level is irrelevant. Most people seem to confuse those terms and believe that low level modulation means something less than 100% when in fact it simply means that an RF stage "lower" in the chain,  like a driver stage, has the modulation applied to it instead of the final stage. It amounts to the EXACT same thing as a "highlevel" modulated radio with an amp after it.