Great review...I'm sold.  Didn't buy the 1st generation. I've been waiting on the 2nd generation to pull the trigger. Well...POW! 

Thanks rcoleman, hope you like it!

Nice review Andrew. I was this close to purchasing X3 Gen2. Now i will wait and see how it fares with X5 Gen2. If X5 Gen2 is worth it over the X3 gen2, i might go with it. I am mostly interested in DSD feature in these players.

Nice review from a DX90 user. iBasso may well have improved the line out volume, gapless and native DSD with 2.3 fw but the sound sig has changed considerably (and not for the better IMHO). The X5ii is looking more and more tempting by the hour!

Thanks maheeinfy, X3 may be warmer X5 more neutral. Sounded very good with the few DSD albums I played though.

Cheers Virgo, I actually like the brighter 2.3 f/w sound. Think I'm in the minority though! Weird that it should change that much, often I've heard no difference when many have reported change at every f/w.

Thanks for the review. Could you please advise is there vast difference between X3 2nd gen and X5 2nd gen...I wanted to buy one and confused which one to go.

Hi Hary, never heard the X3s as I prefer the more neutral DAPs. From other reviewers, the X3ii is warmer so if you want a safer sound and like a bit of extra upper bass, that might be fine. For me, a Hi-Res DAP should tell it like it is!

Thanks also Peridot, Jill, A Spencer & Relic.

Thanks for the informative review, it was really good to read.

Thanks reddog

I look forward to hearing the subtle differences you've described, AndrewH13... but the emphasis on the smaller size, hence portability, also makes a difference.  The original X5 never left the house.

My kind of review. Very helpful. Thanks.

Glad you liked it Peter, thanks.

Thanks Brooko and Peridot

Thanks for a detailed and very useful review! The comparison of X5 with X5ii will help me to choose my DAP. (I am planning to buy new one very soon).

Thanks Amol, glad you liked it.

Thanks Joe B. Delighted you have put it on Fiio's Facebook page

  Very nice review, and very easy to read! I would say very "Human", and yet just technical enough not to be construed as a "NASA Instructor", like some that throw acronyms and terms around in such a way that you need a thesaurus to understand the whole of it.
 
  I also own the X5 (1st gen), and find it to be very open with a great soundstage. This is in comparison to my X3 (2nd gen), and iPod touch (newest gen). I also find that the X5 is brighter than the X3II. I really like the X3II JUST for my HD700, as it helps alleviate the treble spike (that it is known for),  because of its warmer nature. Believe it or not, I actually like the iPod touch (with a E17 portable amp, because it can't really push the HD700's very well by itself) more for the Hd700's because it is actually more warm than the X3II without losing any detail.
 
  If the X5II has more soundstage than the X5 then it MUST be pretty good, because I find the X5 to have a pretty good one. Did you test the gain settings and compare with the X5 and DX90? Does it drive the higher impedance phones pretty well? I do find that the X3II pushes the HD700 just fine (power-wise), but it doesn't quite push them to potential, while the X5 comes pretty close, but makes them too bright (for my ears).
 
  So, is your conclusion that it is heads and shoulders better than the gen 1? Or, if you already own 1st gen, would it be worth the cost to upgrade?

Definately not head and shoulders better on sound quality, im enjoying my first gen again now. Lots of small usability improvements , but for me, offset by lack of single usable coax cable. Didnt spend much time on high gain as i use Hugo for headphone listening as needed for HD800. And my other phones fine on low gain. If you already have first gen, close call whether the small size, brighter screen, quick start and sligjtly less upper bass/ lower mid are worth upgrading. If a nice cable becomes available i might buy, but only in addition to my first gen.