Thank you for that description. I'm thinking of pairing the Music Streamer II with the Rega Ear, but if the V-Dac II is no good, I'm not sure the MSII will be much better. I'll have to try it out at some point and report back. I'm using the DT990 pros. I'm tempted to even try a combo Dac/Amp such as the NAD 1050 D, which is supposed to have good bass as a DAC. I know Rega equipment is supposed to be warm, smooth and analogue sounding when used together, but I'm surprised the amp wasn't able to produce such a sound with the V-Dac II.
MF stuff is also supposed to be pretty smooth, but I guess their lower end lacks punch.
I did a new test this morning, plugged the FiiO X3 as Dac (Wolfson 8740 chip), it work full 24/192 via USB but I've just a crap 3,5 cable from line out.
Shure940 now sound fine, bass punch and details, the sound is a bit darker than V-Dac and this is good to my ears. I'm listening Rachelle Ferrell: I Can Explain, this song has a nice piano and female voice, the piano sound really impressive.
I still don't like how Ms1i sound with this amp but 940 really sing.