PSA manufacture one of your reference DAC's and now say in their white paper (link at the bottom of this press release http://www.twice.com/articletype/news/ps-audio-proclaims-pcm-dac-advance/110111) : 'Separating the digital and analog stages from each other, operating from a single master clock, 10x DSD processing and a purely passive output stage reveal musical details formerly buried within the digital audio media and masked by classic PCM processing and decoding techniques.' This DAC seems to be aimed at improving redbook/PCM recordings not the limited number of DSD recordings out there.
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