I got this unit to replace an old SM Pro Audio M Patch. The Monicon does sound better than the M Patch, its clearer, with distinctly better stereo separation.
I read up a lot on various controllers before buying the Monicon L, so am well aware of potential stereo balance problems at low volumes with these kind of passive controllers. This is not a problem for me, though, since I do most of my mixing in mono on only one speaker.
The separate monon out on output 2 is a nice feature, too, since it enables me to switch between stereo and mono listening very easily, without engaging the mono switch.
Another thing I like about the Monicon L is the headphone amp, which is very quiet and leagues better than the headphone out on the Behringer mini mixer I was using for this purpose before.
One thing I do not like about the unit is the PFL switch. I had to ask Palmer support what this switch actually does, since it is clearly not for prefader listening. Here is what they say:
"With the PFL (Pre Fade Listen)- button you can choose whether you will hear the signal from the AUX input or the signal from the Stereo input with the headphones.
If the button is pressed, you will hear the AUX-input signals.
The PFL button only affects the headphone amp section. Because the headphone amp is pre fade, the headphone volume is independent from the stereo and aux volume knobs."
So, the PFL switch is actually nothing more than an input selector for the headphone amp. I think it should be labeled as such and that the manual is misleading as it states that "This switch enables monitoring the main (stereo) and AUX sources regardless of the stereo and AUX knob settings."
Otherwise I think this unit does what is should do, at a reasonable price, too. It is definitely not a professional product, but a good one for the home studio.
If I had reliable stereo monitoring in a treated room I would look elsewhere, for an active unit.