DJL said:
It's the amplifier on the verge of breaking up that your hearing... and I think it would be better if Geoff explains more about the deltails... as he is more than qualified.
Hi
You have to step back and look at the big picture when discussing transformers.
If you look at the output from the device the transformer sees (besides the components of the load) the resistance, capacitance and inductance of the cable. This depends on the length and nature of the cable. As an example, if there was a lot of capacitance in the cable it would resonate with the transformer and shift the frequency response... usually causing a rise in HF response above 20KHz that adds sibilance to frequency lower down.
If you look at the input to the device it's sort of the other way around. How does the transformer and it's inductance, capacitance and resistance (impedance factors) affect the device driving it? How does the cable characteristic affect the device driving it? And finally, how do these parameters affect the transformer.
In the old days... which, sadly, I can remember... circuits were based on telephone practice and were 600 ohm working. That's both an output and input impedance of 600 ohms... where maximum power transfer took place... but, except for ancient tube compressors, we use the alternative low to high impedance matching.
So, the output impedance of a device has to be very low (usually below 100 ohms) and the input impedance of the next stage is usually very high (usually above 10Kohms). The output impedance of the previous stage adequately damps the primary of the next stage, and the primary does not excessively load the output of the previous stage.
Generally the output impedance of the driving stage should never rise above 50% of the input impedance of the following stage.
Of course, transformer are wound for custom applications so they might have a 1200 ohm impedance for a mic and a 47Kohm impedance for a DI.
As for how it sounds... all those variables I discussed will affect the sound on top of what effect the transformer has. Speaking from a vintage Neve viewpoint, I doubt that any clipping is the transformer but it could be distortion from the following circuitry and a grossly overloaded amplifier input stage would reflect back strange things to the secondary of the transformer.