North American musical instrument and sound reinforcement retailers honored Peavey with four 2006 Music & Sound Awards, including the first-ever Hall of Fame Lifetime Achievement Award. "Hartley Peavey has been a central figure in the music products industry for four decades and an independent dealer advocate the whole time," remarked Vinny Testa, publisher of Music & Sound Retailer magazine, during the 20th annual Music & Sound Awards ceremony in Anaheim, Calif. "Voting him the first recipient of the Music & Sound Retailer's Hall of Fame Lifetime Achievement Award is a tribute to and recognition of his passion and commitment to all the dealers in this industry." The 20th annual Music & Sound Awards also recognized Peavey with Best New Power Amplifier for the CS(R) 800x4; Best New Effects Processor for the Dual DeltaFex(R); and its first Outstanding Community Service Award. Peavey has won the award for Best New Power Amp four years straight. The Music & Sound Awards recognize outstanding technological advances and musical instrument and pro sound equipment sales in the multi-billion dollar music retail industry, and are chosen by retailers in the U.S. and Canada. The Music & Sound Retailer presents the awards during the Winter NAMM (International Music Products Association) convention in Anaheim.