To my understanding, bit-perfect in this context means that the data arriving to your DAC is bit by bit identical to the original audio file in your computer. This happens when neither the software nor the hardware modify in any way the data contained in the file. There are several processes in...

Well, if you have the choice between lossless and lossy I don´t see a good enough reason not to pick lossless. The difference in SQ is quite obvious in anything but the most basic setup and file size is not a very limiting issue, even on a low budget, at the current storage prices. Now, if...

Also, even if you are getting bit-perfect data from both computers to your DAC, jitter may have an influence, and this can be different from each machine, especially if you are using different connectors (I understand the Ibasso has both USB - S/PDIF) Are you using the same connection in both...

I have been reading great things about the NOS DACs from China (Valab, etc.), although I haven't listened to them. There is a Moodlab Concept for sale on the FS/FT forum for just under your budget. Cheers