I've just had my reply from the Audio Note dealer in Copenhagen (Audio Consult). Everyone is raving about the quality service you get there, even if asking about second hand gear. Here's what he says:

"The new model is made of russian birch veneer and is more dynamic and calm (/tranquil / quiet ? I'm not sure about the exact translation).
The old model is made of MDF and chipboard.
You can upgrade to newest spec."

More specifically I found out that the old MDF / chipboard models consists of

AN/K-D (= "entry level")
AN/K-L and (= level 1)
AN/K-SPa (= level 2)

Whereas the upper levels, starting with AN/K-SPe at level 3, feature real veneer.

RGA: that means your speakers, and hence your reference of comparison, is level 3 - am I right? Or did you listen to the L version (or possibly the SPa?) ? It seems the upgrade to L spec. (better cable, though stille made of copper) is quite affordable.

It also means that the D version is NOT level 1, as the dutch seller told me. It should theoretically be on par with the new "Zero"-line. And the beforementioned upgrade path applies to these speakers as well.

RGA: How is your take on the design of the AZ range, constructionwise? Doesn't it get suspiciously close the the infamous "slimline" design, possibly lacking the "wide baffle" qualities? On the other hand the az is 93 dB against the K's 90 dB, which could possibly make it better at portraying microdynamics?

In strict terms of value, i.e. in reference to the retail price, the second hand az two's seems like the better deal. They're around 150 $ cheaper, though the retail price is almost as high as for the K's. Also I wouldn't need a stand for them, as RGA pointed out. But ofcourse that wasn't considdered in the retail price reference either - i.e. a new K-d with stands would retail for more than the az's (but whether it sounds better...?).

OK, I just asked Audioconsult what he would recommend for a small room, the K or the az. But I'd love some comments from the forum as well.