Remember this is an older design from the 797Audio factory. It reminds me more of the MXL V69 than of a SP design. Although I must admid I haven't looked inside a SP *tube* mic yet.
Well, the cap floating above the PCB does look a bit funky, but otherwise it doesn't look that bad to me. The caps are quality Wima film caps (the SP B1 I once opened has those too). And it's a true tube design, no silicon in the signal path. The output is transformer ballanced which may or may not be a good thing, depending on its quality. The MXL V69, by contrast, is transfomerless, which to many tube enthusiasts is a no no, but I found it to be a very decent sounding mic.
Component-wise I'd say this mic looks a bit better than an MXL, especially when it comes to the caps. But that doesn't necessarily mean it sounds better, too. The good thing about MXL and SP is that they cater to western tastes, which are quite different from Asian tastes. What sounds good to a Chinese engineer may sound harsh to an American or European guy. But that's a cultural thing, not a matter of component quality.
Anyway, that's my two cents. So what's the sound like?
BTW: note the replacement tube in the case!