I heard the Phantoms at CES, in an unfamiliar room with unfamiliar music, but I was still favorably impressed. They made my "best of CES" list, along with quite a few other rooms (more rooms than past shows, which, for me, proved that high-end audio continues to advance). I think Mike posted that list in the CES thread. And I was never impressed by the Devialet amplifiers, so this was a pleasant surprise.
Anyway, I'm not sure yet if the Phantom is "Lumin" good* or just "talking dog" good, but I am interested in exploring the brand further. They certainly competed with, if not outperformed, many of the $10,000+ rooms at the show, most of which were sabotaged by the individuals who set up the gear. And they even competed with some $20,000+ rooms at the show, which, again, is just a sad commentary on how much damage some people in the industry can do to otherwise good gear. for example, someone should really help Richard Vandersteen get more out of his expensive speakers and crazy expensive amplifiers.
This is not to say that the Phantom would necessarily compete with the gear in those expensive rooms if that gear is to your liking and has been set up in your home or some other familiar room by someone who knows what he's doing, but when you can buy a whole system for far less than the price of some power cables, I would recommend at least considering it. For a second home, room, or a relatively extravagant gift to someone who loves music but wants a very simple solution, I think it will outperform most other systems in that price range (app. $4,200 for two Phantoms and their controller/router interface).
One of the most impressive statistics I heard was that Devialet has 90 employees, 50 of whom are engineers. That bodes very well for future enhancements and upgrades. And when the Euro is dropping like a rock, why not fly to Munich in May and listen for yourself?
"*Lumin good" meaning that I was also impressed by the sound in the Lumin room, which was quite good considering that a Lumin is a media player and a DAC for a favorable price. While it doesn't really compete with SOTA pieces like the Berkeley Reference, it certainly wouldn't be embarrassed by them. I believe the Devialet Phantom provide superior performance for the price.