I've used both units extensively, and there are differences. The DMP-3 produces a little more gain, and is audibly cleaner. The audiobuddy also produces phantom power that is a bit shy of 48v. I us the audiobuddy as part of a mobile rig built around a Korg PXR4 Pandora. The DMP-3, however, is the preamp of almost last resort in the studio. When I'm using the Avalon, the twinQ, and all 4 channels of the Digi002, the DMP-3 comes next, and it's really pretty good. For what it is, though, the Audiobuddy is pretty amazing.-Richie