@ Karlos & mrA500
You guys crack me up!
I would say that I'm getting FM quality sound through Paula with both Amiga Amp & Amplifier (configured for X-audio). (SongPlayer was not as good, but, I haven't tweaked it as much.) There is no noticeable clipping or distortion. When I compare to my Palm or the Mac next door, Paula lacks a subtle dynamic range. It doesn't sound live, it sounds recorded. I think that this is the difference between 14bit and 16bit sound.
Once again, is anyone aware of a source for Masplayers? There's a project a hardware vendor should resurrect! I would buy a couple.