Pros: Beautiful hardware, great customer support, balanced and fully discrete, Made in USA
Cons: clicking when changing sample rates (nit pick, NOT a flaw)
What can I say about this product? I've had it for 6 or 7 months now and have used it with my Audeze LCD-2's almost on a daily basis to unwind and listen to music. It's extremely clear, transparent, musical, everything a DAC should be.
All I can really say is coming from a EMU 0404 to this was night and day, a hands down huge improvement. I honestly feel that I haven't heard anything better, and anything better will cost WAY more and be only marginally so. If you own this DAC you know, but if you are looking at this DAC, you can almost retire from this hobby until there is some sort of DAC breakthrough or new audio formats that come out some years from now. Even then, Schiit will probably release a upgradable chip to add on any new technology.
Regarding the con I listed, if you're using SPDIF (not USB) inputs and you change sample rate, the data stream stops and frommy limited knowledge the muting relay kicks in for a split second. When this happens there is an audible click from the unit itself but not heard through the headphones. After a little while you don't mind it. I can see how this could potentially annoying if you shuffled your whole library and you have lots of different sample rates in there but it's so marginal, it's barely a con.
Rest assured, if you're like me you can buy this and know it's a great long term DAC that gets you to end-game performance.