One of the missions of SBAF is to seek out interesting and awesome new stuff. You know, stuff that you will never hear about on Head-Fi because Head-Fi requires MoTs to "pay to play". Unfortunately, this doesn't bode well for smaller boutique operators as they simply do not have the dollars necessary to continue posting on Head-Fi, especially after one of the moderator goons shuts them down. Head-Fi is a business after all, and it should be run like a business. However, that's OK. Because we here have been able to enjoy the super value high performance stuff from the small guys. Allow me to introduce the LTS v3 (formerly LTA) headphone. It is a beauty! Reminds me of the Sony Qualia 010! Allow me to post one of my janky photos here (ignore the super fake Google background blur - it's so bad that it gives me a headache). The V3 I believe uses a 2" Peerless headphone driver which is widely available. The driver is angled in the frame and positioned similarly to the HD800/Qualia/SA5000. I would describe the sound as light on its feet, fast, zippy. I have not played with all the configuration options yet. Out of the box, the frequency response is neutral. There is some early bass roll-off (expected given the design of the cup and the driver) and if I wanted to nitpick, maybe a small narrow dip in upper mids and a small narrow peak in the highs. I think most will find the LTS V3 tonally lean or bright because of the bass roll-off combined with what seems like very flat bass response (most dynamics seem to have a small bump in the midbass, but not here). Given the original DIY intent of LTS, I'm sure there would be many ways to bump up the bass a bit. (There are plugs included in the package to do just that.) Also, some pad rolling to bring the drivers a few mm closer to the ear may bring some added warmth. Note that I did not have a problem with the stock tuning when run from my multibit DAC and tube amp with the high Z 8-ohm speaker tap (the low Z is for 4-ohm speakers). However, I felt this worth mentioning in case someone were running an ESS DAC or an amp like the Fiio K5 (warmish, but glarey and sharp up top). I let someone at work hear them (Magni 3+ and Modi 3) and he thought they were a bit lean sounding. I will post more later tonight including maybe some measurements.