Well, I had a 2-hour listening session at the Paradigm/B & W dealer on Friday after work and here are the results.
The contenders: Studio 20V5, B & W CM1 and CM5.
The top of the heap turned out to be the Studio 20. Going in, I was suspecting that the CM5 would come out on top, but that wasn't the case. It was too bright - not significantly, but the 20 was definitely more balanced. The CM1, while more neutral than big brother, was too insensitive to get any appreciable volume in a large room. I was surprised by the result, as TLS Guy had mentioned in a previous post that he thought the CM5 was the jewel in that model line. Plus, the CM5 cost $600 more than the Studio!
I also thought the imaging of the Studio was on par with the CM5.
For comparison purposes, I also listened to the CM7 and Studio 60V5. The CM7 was quite neutral, compared to the CM5, which is puzzling. The Studio 60, while playing deeper than the 20, sounded like there was a blanket over it - "veiled", for lack of a better word.
Anyway, at the moment the Studio 20V5 is at the top of my list.