Memory playing tricks on people, or poetic license. Magnepan dealer from the mid-70's makes it somewhat difficult to have had anything to do with TFTT. Catch Bull at Four, maybe, depending on what one means by "mid"...
I moved to New York City in 1989 after a little less than a year in Philly where I had purchased some Polk SRS speakers which had tweeters that kept blowing up on me despite modest volume. I found my way to Lyric and got to spend some time listening to ARC and Magnepan with Mike Kay. It was fun since he played the IRS Betas to show what a top line system could do. He knew I had a limited budget but he pretty much gave me a nice introduction to buying systems. I wound up buying some Magnepan IIIas from him. Later I when I needed new speakers I purchased 1.6s from him but he suggested I build crates around the boxes since I was then living in Atlanta.
I was impressed by Mike and still keep in touch with the crew at Lyric. As I read up on audiophile history, it became even more apparent what an impact Mike Kay had on the business.