The following excerpt from a review in Soundstage! "proves" that SACD has superior imaging and can create a more 3D soundstage:
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The FMJ CD37 was a wonderful CD player, but it was an even better SACD player, bringing life to this format and proving its sonic superiority. I am not sure whether it was its ability to decode DSD natively or all of Arcam’s vast expertise in producing excellent digital players that helped the CD37 sound so good, but its performance with SACDs was truly spectacular. All of the sonic traits that I heard with CDs were there with SACDs, only magnified. The CD37 sounded so good that it made me want to listen to all of the SACDs that typically sit unused in my CD rack. In fact, it made me wish that I had more SACDs to play. Dire Straits’ Brothers In Arms: 20th Anniversary Edition (Vertigo 602498714980) sounded gorgeous, even if the CD37 could only play it back in two channels. The acoustic guitar on "Walk of Life" was rich and vibrant, and the bouncy melody and vocals were infectious. The imaging on "Ride Across the River" was eerily holographic, with the shaker nearly jumping out of the soundstage.
The differences between the Denon and the Arcam players were even more apparent with SACDs. To my ears, SACDs sounded more like CDs through the Denon, very good CDs mind you, but there was just something a little lacking. For example, with the Denon player, the pinpoint imaging on "Temptation" from Diana Krall's Girl in the Other Room SACD (Verve 602498620465) was still there, with Ms. Krall's sultry vocals dead center, Anthony Wilson's guitar set slightly back and to the right, and the brushes, cymbals and high hat off to the left. However, the soundstage depth was reduced, resulting in a less three-dimensional presentation. In contrast, the Arcam CD37 was able to take this SACD to the next level of performance for a true high-resolution experience.
Conclusion
After listening to the Arcam FMJ CD37, I can understand why so many audiophiles listen to SACDs. Its performance with these high-resolution recordings was breathtaking. Even though I typically listen to high-resolution audio discs on a multichannel system, I found the CD37’s playback of SACDs in stereo to be totally captivating. Being Arcam’s reference CD player, its performance with Red Book CDs was as equally accomplished.
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Perhaps the Marantz Pearl Lite is like the Denon and can't take the SACD to the next level of performance. I have an Onkyo CS5VL that is not that great with redbook but is far better with SACD.