My 2203 has a Hammond output transformer. And the amp sounds a little bit "off". My first 2203 was a tone BEAST, this one falls well short of that. I found an original correct 2203 output transformer, but it had very short cut leads. I sent it off to Mercury Magnetics to be tested and re-leaded. It tested good, has been re-leaded, and has been returned to me. I'm going to record the amp at certain defined settings, and after changing out the Hammond OT for the correct OT, I'll record again with the same selections and settings. I'll post the clips here so we can all hear what a transformer swap can do for tone. In the interests of doing the demo on an absolutely level playing field, the tracks will be recorded DI from the guitar, and passed through to the amp, in addition to the mic'ed cabinet being recorded. Then I can play back the DI recording to duplicate exactly the playing into the amp's input jack after the OT is swapped. At least, that's the plan.