I think the bithead does have a really nice place in the market, but as someone who is looking to spend about that much money right now, I'll tell you what I'm looking for, and the few things that are making other options looks appealing as well.
1. rechargeable battery - I really do think this is a nice plus. I suspect it would let you run higher voltage (9V rechargeable are common enough), and keep the user from having to replace or remove batteries. Since I think it would often be plugged into USB, it would stay charged and then the power is not so much of a concern.
2. Size - I think there should maybe be a differentiation between the Air-head and the Bit-head here. Since the air-head is clearly more focused at being portable (and used while traveling with an iPod or the like), keep it small (but add rechargeable). Since the Bit-head has the USB capability, I suspect many people (like me) will be looking for a DAC/amp combo to use at work and at home, so it should be portable, but doesn't need to be super-small. This would let you make it a little bigger to add some nicer electronics and a rechargeable battery (in a cool aluminum case).
I don't really see the need for optical on a device in this price-point. It seems like if you spending little money since you want something small and probable, you wouldn't need it, and if you have the hardware to be able to really tell the difference, you have probably spent enough that you would be ok with spending more to get nicer everything else.
That's pretty much it, but I would do your best to stay under the $200 window if possible, above that and I think you leave the Bit-head's market (that's not to say you couldn't bring in a new device in the $250-350 range to compete with devices like the iBasso D10).
Just my thoughts.