I listened to the 24bit files that were normalized. With 50sec left in the track I was able to tell the real differences between the two. The music takes a nice low and you can really hear the instrument separation. Since I don't know either of the boxes very well I listened knowing which source was which as I had no real bias as far as *knowing* either of the boxes really well.
First off I think they both sound really good and I didn't find that either of them stood out as outstandingly better than the other. There were three main differences for me:
1. Soundstage: I thought both boxes had an equal width, but the 722 was tighter in the midrange and more focused to the center of the soundstage. The hdp2 had a smoother soundstage at the expense of a tiny bit of high end detail and the insturments were spread a bit more evenly but with less focus.
2. Midrange: I thought that the midrange on the 722 was a bit more analytic, with more focus. The midrange on the hdp2 was more musical, or *warm* but with less detail. Both boxes excelled in this area and the guitars sounded fantastic. I liked the hdp2 a bit better for it's musicality in this area. With 41sec to go the guitarist lets a sweet lick go with some delay attached to the end of it. With the 722 it sort of hovers in the center and the delay is a bit understated, but on the hdp2 the notes seem to fly out in front of you in 3d. Really that one note is what pushed me over the edge as far as the midrange was concerned.
3. Bass: The 722 just kicks ass in this department, tons of thump and very tight with no slop to speak of. I loved it for this. The bass on the hdp2 was more rounded and less pronounced. The hdp2 sounded very good but if you love to hear that kick drum hit you in the chest then the 722 wins in this department.
Overall it's a toss up. I think the 722 has more detail at the expense of a tiny bit of musicality, i.e., smoothness or warmth but with killer slam. The hdp2 is a bit sweeter or warmer at the expense of some detial. Both boxes sound fantastic and I would think people would be all over the board as to which one they liked better in a blind test.
my listening was done on:
imac>audiophileUSB(spidf out)>Spitfire24bitDAC(w/supplier)>TmaxMITinterconnects>JolidaJD1501>AcousticEnergy3s