The Leak Stereo 20 amps were very popular in the 1960s, and with good reason. It's a good implementation of a good circuit. Beware that driving them hard causes the wax in the transformers to melt, drip out, and eventually they will die.
The Stereo 50 is rarer. I've never heard one, but they're supposed to be good. If you decide you don't want it, someone will buy it from you on eBay.
With the stereo 20 at least, it's quite effective to have transistor-fed subs, and the stereo 20 handling the main speakers. You can get sweetness and power without overheating.
You can find everything you want to know about Leak amplifiers here:
http://home.mira.net/~kiewavly/Leak.htmlAs for the "sound" of valve amps: bad examples (or badly partnered examples) won't give bass that's acceptable to modern ears (though some people love the sound) - most examples suffer from a small amount of microphonics (easily audible if you tap the valves with your finger - you can hear the tapping and ringing out of the speakers!) and self-reverberation (easily audible if you replace the speakers by an 8 ohm resistor and listen carefully to the valves themselves - the music is there!). I believe both can add to the "nice" sound associated with value amps.
It's not just the speakers that matter wrt valve amps (though 50 watts was considered a huge amount of power when that amp was made!) - it's the volume you like to listen at, and the amount (and type) of distortion you find objectionable.
There's also the reliability issue: valve amps won't run for thousands of hours without attention. The valves do wear out.
There's also the safety issue: if you have kids, a valve amp needs to be well out of the way - especially vintage model like this - they were designed for hiding away in cabinets, though most people now have them on display. When switched on, there's enough voltage in each of those valves to kill you, so be careful. Don't let anyone fall on it or stand on it!
It'll be fine fed from a good lossy source. You could probably run it directly from an iPod and a simple passive pre-amp.
The Leak power amps work very well (IMO: best!) with a line-level source and a basic/passive pre-amp.
Good valve pre-amps are much rarer than good valve power amps. The contemporary Leak pre-amps were terrible - avoid. Some modern ones are better, but with a line level output from a CD player etc you don't need one.
Cheers,
David.