Originally Posted by trentrosa
I listen to mostly CD quality lossless tracks via foobar.
Yes, I think you could use an upgrade. The ESS9023 appears to be an excellent chip, but it's a combo type - headphone amp, charge pump and DAC all combined. The S/N ratio is quoted as 112dB, not really that good for a naked DAC chip. Typically, a fully operating DAC device will not attain the basic S/N ratio of the DAC chip itself. So when you start that low, it only gets worse.
I'm not sure I saw much with regard to voltage regulation on the PCB, either - so you might try a powered USB hub and that could offer some improvement. Bottom line, though, yes - the rest of your equipment probably outclasses your source.