capn, this is a sidetrack of a sidetrack by now, so let me just summarize a reply. A few types of components in recording equipment really are critical, such as the capsule and the first-stage FET or tube of a condenser microphone. Audio transformers fall close to being in that category--not quite to the extent that microphone capsules do, but considerably more than (say) 44.1 kHz vs. 96 kHz makes a difference in music recording.
Or you know the descriptions of various recorder mods that some vendors offer, that some people here swear by? Those descriptions are at about the same level of difference that different audio transformers can definitely, actually make.
Many issues affect the quality of audio transformers--and as I said, the really good ones (i.e. the ones that are reliably audibly transparent) tend to be expensive and somewhat bulky. But there is definitely a "law of diminishing returns" in this area, since more than half the benefit can often be obtained for less than half the cost. Plus the problems of audio transformers aren't always a matter of quality as a generality--often they're a matter of the transformer's suitability (or lack thereof) for the specific use to which it's being put, plus certain tricky details of the way in which the transformer is actually used in practice.
The main technical issues are (a) bandwidth, (b) flatness of the frequency response within that bandwidth, (c) distortion levels at ordinary signal levels, and (d) the overload limit. (d) then breaks down further into the midrange/high-frequency overload limit vs. the low-frequency limit. Other technical issues include shielding and the limits on cable-driving ability--it is often imperative that the cabling between the output of the transformer and the input of "whatever comes next" be as short and as low in capacitance as possible to avoid high-frequency signal losses and/or high-frequency slew-rate limiting, though as with all source and load effects, the degree of this problem varies with different transformer configurations.
In general, all these problems are most apt to matter when (a) the transformer is small or even "subminiature" (as in the kind that can be built in to an XLR connector, or a metal tube with XLRs on both ends), and/or when (b) the transformer features a voltage "step-up" (= its secondary winding has significantly more turns than its primary winding, which both multiplies the voltage and causes an impedance transformation equal to the square of the turns ratio).
All in all, transformers introduce numerous variables that need to be looked out for. If they're well made for their specific application, and used with proper awareness, they can solve certain kinds of problems very effectively. If not, though, they can screw things up. There's an off-chance that they'll screw things up in an interesting or pleasing way in a given instance--but if so, that's a serendipitous outcome that you can't rely on.
--best regards