... the stock Voicemaster has grid-biased front end high-gain 12ax7 (ie true common-cathode) gain stages, the signal caps are
maybe not the best values for guitar bandwidth range, the phase driver circuit is the single-tube cathodyne circuit which has less
gain, uneven drive and clipping characteristics and a lower dynamic range than a typical diff-pair (long tail) circuit - the output
circuit is same as in any guitar amp though, and the typical Traynor power supply is as in other Traynor amps of that time ... 

t