Whitewind: I thought about that, but I can't think of a way to make the DAC draw most of the current from the USB and only use the battery to boost voltage.
I've actually been puzzling over the power supply most of the afternoon. Assuming the USB gives perfect 5.0V (which mine does), going by direct USB regulated, the regulator wants input voltage = output voltage + 0.4V, which gives a maximum output voltage of 4.6V. Beyond that the ripple rejection drops off significantly, however the regulator will benefit from a voltage difference of even 1V between the input and output voltages. The DAC chip's minimum working voltage is 4.5V, and performance gradually improves as voltage increases, up to 5.4V.
The ideal situation for USB power would be to take the 5V from USB and step it up to 6.4V, and then regulating it to 5.4V and feeding it to the DAC. I looked up a few voltage converters today and this is certainly feasible, maybe for the next revision?
The alternative would be to hook up say, an NiMH AAA in series, which boosts the voltage to 6.2V, and regulating it down to 5.4V. Problem with this is the battery would only last about a week if the DAC is running 24/7. One idea was to limit the current draw from the battery somehow, but I can't figure out a way for when the battery is hooked up in series. Anyone with some insight on current limiting?
The other idea was to build a trickle charger into the DAC and charge the battery from regulated USB - another idea for the next revision, perhaps?