I have a Linn Genki CD Player and Anthem AVM20 running in Analog Direct bypass mode, feeding Revel M20's. The Genki has two sets of outputs on it, so I was able to connect the Genki to 2 different inputs on the Anthem, one with the X-10 and one without, and trim the input level to be identical (the X-10 adds or subtracts about 1db, I forget which). In instant switching back and forth, I could not tell the two apart. Whether the X-10 was in the path or not. Everytime I thought I heard a difference, I would re-listen to the specific 10 seconds where I thought I heard something and was never able to reproduce the perceived effect.
I borrowed it from a friend who purchased it for his system. He claims to hear significant differences, as do the favourable reviews. I however heard nothing and consider myself to be fairly sensitive to these things. YMMV.