Well, I've been fiddling with my new HDP for about 5 hours straight now and still find myself glued to the chair! Here's my initial thoughts so far (take it with a grain of salt for now, as it's still very early) through my netbook -> Foobar2000 (Asio4all):
- Very neat and tidy little box it came in. You can tell a lot of care went into making this presentable. The HDP itself is very solidly built and does look like one fine piece of audio hardware despite its small size and black appearance. The power supply looks solid as is the USB cord included (though I need one longer for my use so I'll be getting a new one shortly). My favourite accessory though is the included 1/4 adaptor, which is very sturdy and well built. I'll be using it with my ESW10JPN a lot.

- I first started off the first few hours using it as a standalone amp out of my netbook. Now, I'm not sure whether I've become entirely tube amp guy or whatnot here, but the results to me was a mixed bag; it went well with certain headphones, but not as well with others IMO. First, it DOES have plenty of power for every single one of my headphones and drive them all effortlessly so that's not the problem, and the detail retrieval and instrument separation is fantastic. However, it has a specific signature IMO that not everyone may like. I find the general signature on the cold side compared to my previous Pico -> WA6 setup. I also find the soundstage somewhat on a subpar side... this I was a bit surprised about as I expected better. Anyways, here's the brief summary of it as a standalone amp with headphones I tried:
* HD650: Great synergy IMO. Brings the details, speed, and dynamic out of the HD650 very well. Bass was well controlled, and mids were great and not veiled as it can with some of the lesser amps. Felt as if I could use more soundstage, but otherwise was very happy with this combo.
* K701: IMO, not that great of a synergy. This combo to me sounded extremely cold and plasticky. Synergy wise I felt that even the simple uDAC -> K701 sounded better than what it did here, but perhaps for people who strictly crave for detail and accuracy, it'll still be good to them as they indeed still do those things extremely well.
* RS1 (Flats): Did well here as the signature of RS1 with flats is warm in general. Brought the details out well and tighted the bass very well. Was actually better here than the old Pico -> WA6 combo.
* ESW10JPN: Pretty good overall IMO, but at times with certain songs sounded a bit analytic and bass light. But detail and clarity were amazing on this combo. More than adequate in all. I do hear VERY miniscule amount of hiss, which becomes a non factor when music is turned on, and is more about me being picky and anal more than anything.

* K271: See K701. Did not like AT ALL. Sounded even more clinical than the K701 combo and I would not use this combo for music personally. May do very well for monitoring/mixing purposes though however.
So overall, I felt the amp section was more than adequate but I have to say I expected a bit more out of it. Felt that it was more or less even in ability with the old Head-Direct EF1 amp that I had, which obviously is a decent amp. However, compared to the old Pico -> WA6, it felt like an obvious downgrade for sure.
- On to the DAC section, where it gets a lot more interesting... well, I'll start off by saying that I'll be selling my Pico DAC without hesitation. IMO, the HDP as a DAC beats it in every single way and addresses most of the problems that Pico had.
- I always felt that the Pico DAC didn't do the mids as balanced as I liked, and could always hear bit of an upper mid peak compared to slightly thinner lower midrange with any of the former setups I had with it. HDP IMO has perfectly balanced and organic sounding mids when hooked up to the WA6 (stock, with Sophia/RCA 6DE7) and get them just as I like them.
- I also felt that Pico had ever so slight bit of midbass boost, and in comparison the HDP sound more balanced in the bass area. It's never overbloated yet never sound overly thin or tight either.
- Highs are well extended and well defined, defintely more than Pico DAC, while never being sibilant.
- Detail retrieval and separation of HDP puts Pico DAC to shame IMO, to be blunt. To recite a common saying around here, "I'm hearing things that I never heard before in a recording".

- Soundstage honestly isn't MUCH of an upgrade over the Pico DAC, but it's at least on even terms with wideness and has bit more of a 3D presentation, with better positioning.
- I'll cut short with the headphone impressions for now, and will just say that EVERY SINGLE one of my headphones sounded better through the HDP -> WA6 combo than the Pico -> WA6 combo or HDP alone. Most notable performer IMO though is the HD650, which improved the most from the previous setup... I can honestly say that I now feel that HD650 is at its max potential with this setup.
So there is my initial impressions. To summarize again, I felt that while the amp portion did honestly disappoint me a little bit (but still more than capable enough), the ability of the DAC portion more than makes up for it. Perhaps about 7/10 for the amp portion (as good as my old EF1) but 10/10 for the DAC portion (did not disappoint my expectation of it significantly bettering the Pico) Overall, as a combo, I feel that I've spent my money VERY well. Hell, even if this was just a DAC, I'd still feel that it was worth the money! Top Class product.