Pros: Transparent I think
Cons: Original Price, seems a little dated now, but serves my purposes
I was looking for a step up from PA2V2, admirable though it is and fond though I am of it. I listened to a friend's Headroom Maxed Out Home Amp that showed what I was missing because of the PA2V2.
I got this m901 used. I generally feed unbalanced analog sources and am happy that I can distinguish between my various disc spinners.
Using the coaxial digital input from a Sony DVP S7000, I was not able to tell the difference between the inbuilt DAC and the Sony's analog outputs. No mods to either. Headphone was a Focal Spirit Pro.