Got mine from the shop in HK, man that was quite an experience. I assume the guy I met was Eddie, he spoke good english and seemed to know his game. He told me to get this over the Lite DAC68, cheaper and better. They made a big thing about sitting down and listening to the actual DAC I was buying. They then boxed it infront of me and gave me some freebies, they were all out anyway because he runs them 24/48hrs.
I bought it to go with the balanced Beta 22 I am building, purely because it has balanced output. I wanted a Great March 2 but couldn't find it during my 36 hrs in HK.
It ain't so ugly in the flesh and is very well machined, accurate fit of lids etc but the buttons can be a little sticky. The case is thick and heavy, very solid. The remote makes a good kosh should you need to knock anyone out, wish they had finished it better though because it makes a talking point.
Taking it appart involves removing every screw and small hands. Very big pain in the arse and takes a lot of time. Inside build is great, bit of flux residue on the board and dull joints (lead free probably) but everything fits within the outlines and is finished well. Caps appear to all be Rubycons except the output caps which are Rifa MMK and the PSU caps which are Nichicon FW. It appears like a professional product PCB wise, not like some of the other DAC's I've seen.
Built in headamp is ok, NE 5532 opamp follwed by some kind of buffer. I'm never going to use it but it is tolerable and has good volume with some authority.
I've run it for 48 hours solid playing music and I still don't like the way it sounds. I prefer my modded 0404 by quite a lot, this shouldn't be. High's are harsh and it just never evelops me and sucks me in, it is metallic sounding also. Sounds very similar on Optical or Coaxial, Coax having the edge for me. Upsampling does soften it a little but blurs the sound imo and is best left off (I normally run 176.4k with the Emu, so I like upsampling)
I would not class this as (much of) an upgrade from a stock EMU 0404.
I'm in two minds to sell or mess with it. I'm thinking I may replace all the Rubycons and put Auricaps?(I would normally use BG N) in the output, also tidy up the Coax input, BNC direct to the receiver. I am leaving it run 24/7 in the vain hope it may improve but it is never going to make me go 'wow' compared to the lowly 0404.