In the interest of scientific enquiry and self-directed learning, here's my amateurish attempt at comparing three oft-mentioned stethoscopes on this forum. The comparison is based predominantly on the differences between the three. Please note that this is not a scientific study - so your mileage may vary.
First of all, all three are good scopes. They would not be popular otherwise.
Littmann Cardiology 3 (28")
The Cardio 3 has good amplifying qualities. First impression is that this steth is loud. The issue with amplification is that ambient noises are also magnified. Amongst the three models, I'd say this steth has the most amount of ambient noises coming through. The harder the chestpiece is pressed (for higher frequency sounds), the more these ambient noises become apparent. Heart sounds have this distorted bass profile, like some one blasting distorted "toof toof" music from the car. I converted the pediatric side to a bell - also bassy, and distorted.This scope is chestpiece-heavy.
Welch Allyn Harvey Elite (28")
Loud (perhaps just a tiny touch softer than Cardio III), with some amplification of ambient noises. The trick is to place just enough pressure on the chestpiece when performing auscultation (the ideal amount of pressure is the weight of the chestpiece). Since there is less ambient noise, the overall sound output is louder than the Cardio 3. Heart sounds are clear with only a very slight distored bass profile - I'd rate clarity higher than the Cardio 3 but not as high as the DLX. Bell is loud and very slightly bassy. This scope is very well balanced and user-friendly.
Welch Allyn Harvey DLX - 2 Head (28")
My first impression is that the sound is softer than the Elite and Cardio 3, but with very good clarity. Given good technique however (just enough pressure, see entry on Elite above), the overall loudness is on par with the Elite and Cardiology 3, since it produces the least amount of ambient noise. Any distortion is kept to a minimum (there's hardly any to begin with). Acoustically, the clarity is alot better than the Cardio 3, and slightly better than the Elite. The bell is also the best amongst the three (no sign of distortion). The DLX also provides the biggest difference in terms of low/high frequencies between the bell and the diaphragm. As the chestpiece is heavy, it's not as well-balanced as the Elite.
Summary
Loudness (heart sounds only): Cardiology 3 > Elite > DLX
Loudness (overall, including ambient noise and artifacts): Cardiology 3 = Elite = DLX (note that perception is highly subjective)
Clarity: DLX > Elite > Cardiology 3, with DLX >>> Cardiology 3
Balance: Elite > Cardiology 3 > DLX
They're all well-built.
I'm inclined to believe that amplification can lead to increased distortion, ambient noise and artifacts, therefore maximising amplification is not in itself a good idea (especially without some form of ambient noise reduction). Clarity can be achieved at a cost to loudness, but this is not a problem if ambient noise is well-controlled.
Personally, I'll be keeping the Elite and DLX.