From Part-Time Audiophile, 2013 Capital Audio Fest
Other big news? A new phono from Luminous Audio took a bow as well, today. Called “Arion”, the new phono was designed by Mike Bettinger of GAS Audio (second photo, above). I’m quoting:
The Arion is a two stage design with the first stage primarily providing gain, which is switchable between 20db or 40db allowing for both MM/MC. The switching is handled by high sensitivity/small signal Omron relays carefully located on the PCB.  The second stage provides an additional 24db of gain and the output stage is essentially a class-A design set to run at fairly high bias, operating the output devices in their sweet spot.  You might have noted the heatsinks for the power supply and output transistors on the PCB.  The gains are set at either 44db or 64db.
It has only one set of inputs.
There’s more: the $4,500 phono is single-input and single-ended only, uses a 4-layer PCB, all the signal path connections are soldered in silver, and that the power supply sports “dual split-bobbin E-I core transformers and Fairchild Stealth rectifiers” with separate transformers used for the +/- supplies. My note here says that there is also a “lack of capacitance on the output”. Like, none. Hello…. Interestingly, there seems to be plans for a second model:
“The loading/capacitance on the base model will be handled by swapping resistors in internal sockets while the all out version will be electronically switchable. “
That model, still in development, will also also include such niceties as “Caddock precision film resistors and higher grade Vishay capacitors in all critcal signal path and EQ applications … Luminous internal wiring; isolation mounts for the PCBs and chassis feet, etc.” Price for that second model is still TBD.
Sounds sweet to me! I would dearly love to fiddle with the Arion. Hopefully, the Luminous Crew will see fit to honor me with some time on it when it starts shipping in a couple of months.

Source: http://parttimeaudiophile.com/2013/08/01/caf-2013-surreal-luminous/