Pros: Cheap, Portable, subtle warmth, good detail for the price
Cons: Average Value
This was the first piece of audio gear that I ever owned when I was venturing outside of what I could get from local electronics stores. I wanted to see if this would provide any difference with my RE-0 earbuds and my friend's ATH-M50. I cannot speak for what I know now which is a lot more, but at that time I felt it was an improvement over generic computer audio. My friend and I were on a road trip, and this was the perfect device to use in our hotel rooms out of my laptop. We were doing a lot of turntable.fm sessions then and I will say it performed nicely.
From what I remember to what I know now, this is probably slightly less than I would expect from a 50 dollar product. There is a nice warmth going on and it is a bit grainy but it has a charm to it.
A few reviews I've read said that the fact that this dac only outputs 16/44 is a compromise. I don't think that's true. 16/44 is fine and will offer all the musical enjoyment you could ask for. Once you forget about your file's sample rate and listen to music. If you're looking for a touch of power and detail compared to your PC, this is for you. If you have reasonable headphones you will notice a difference. I don't recall any hiss from my experiences, but I don't doubt the other reviewers.
If you're looking in this price range and you can deal with the drawbacks, I think this is a pleasing product to have by your side. I've you've read about the hifiman house sound this kind of goes in line with that. Happy hunting.