I have a PR-20 that I've converted to a PR-40.
The main difference between the two is the power supply. The PR-40 has two rectifier tubes, while the PR-20 has only one. Several of the resistors in the power supply are different as well. There are a few other differences as well. I can go into more detail if someone expresses interest.
I've heard that many of the "Lounge"-type organists of the sixties used to swear by the combination of a PR-40 and a Leslie.
While, personally, I certainly wouldn't trade my Leslie for a PR-, I think the combination of the two is quite nice. The PR-40 seems to have a much deeper bass response than a 122. Though this depends quite a bit on the placement of the open-backed cabinet! I've found that placing the PR's back against the wall with a 1 or 2 inch gap between wall and cabinet is best. The cabinet response seems quite dependent on the wall-to-cabinet gap.
For those who are considering undertaking this task, here's a copy of my (terse) notes regarding the differences in components and values between the two models. --JeffDairiki
1. Add V14 5U4GB to power supply.
2. Adjust gain of treble channel.
R11, R14: 220K -> 150K R12, R13: 150K -> 180K
3. Reverb recovery changes:
R56: 8.2K -> gone More gain: R54: 180K -> 220K R59: 470 -> 390 (more gain) Less gain for bass than treble: R55: 33K -> 15K R55A: n/a -> 18K
4. More gain for reverb channel when treble reverb off:
R68: 180K -> 150K
5. For stability?
C37A: n/a -> 150pf
6. Bass gain & cutoff?
C13: 2200pf -> 1500pf R30: 560K -> n/a C14: 1200pf -> n/a
7. Room size switch
R32, R39: 390K -> 270K R33, R38: 680K -> 220K R34, R37: n/a -> 150K R35, R36: n/a -> 330K Switch: DPDT -> DP4T.
8. Whole feedback scheme of bass final stage changed:
R45, R46: 330K -> 47K R47: 10K, 1W -> n/a R48: 130, 3W -> n/a C23: 2200pf -> n/a C23A: 100/25 -> n/a R47, R48: n/a -> 270K C20, C22: 100pf -> 1000pf R86, R89: n/a -> 47K C51, C54: n/a -> 1000pf R87, R88: n/a -> 270 C52, C53: n/a -> 100/25
9. Power Supply
R77: 500, 5W -> 100, 5W R79: 1K -> 5.6K 1W
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