Some more feedback ...
1) I could find a way to format my 1Tb micro SD and being partially able to use it (on a Windows Workstation + 4 hours synchronizing 10220 hires files) .. Though randomly it's telling files are not in a correct format (When it happens, I have to restart to fix it, and it's working again for a while)
It's quite annoying and a bit frustrating, but at least usable.
The good news is that with this SD format I can choose the SD card to download my playlists from Qobuz (at least with a smaller SD card it will work fine with a IER-Z1R for travels). I was not thinking to use it for travels, but seems to be possible to do.
2) It's a surprise but, with my tiny USB-C micro SD reader, I can access to 1 more Tb with 8800 hires Files, it makes 2 Tb files and more than 20 000 files for travel.
3) Bluetooth is perfectly working with Qudelix 5K with LDAC@990kbps (Fiio M11 is limited to 660Kbps), and my Android BT Remote Control working fine too.
4) I tried again AK connect to pilot the Kann Alpha trough DLNA with mconnect with an iphone Xsmax and a Galaxy Z Fold 2 .. And today I waited a much longer time, now I can see the Kann Alpha as a Dlna render in the list... which is very good news as I intend to use the Alpha Kann as a standalone DAP via the Spdif/Toslink connection to myM500/THX887 (unfortunately, the EQ has no effect via Spdif/Toslink).
Unfortunately the Spdif/Toslink output doesn't pass trough DSD format and converts them. It's not a big deal, but the Fiio M11 can pass through any DSD64 trough spdif or even make all to DSD 64 with any file format.
Otherwise, I really like the AK Connect, though it's a bit annoying to select between "My Device" and the "Upnp NAS" every time. Qobuz also is not at the same menu level. So it's not really easy to switch between Upnp NAS, SD Card, Qobuz.
5) I don't know what is the real output power of the Kann Alpha, but probably more or less 1W/1.4W at 42 Ohms and not 3.4W as intended.. (activating the EQ is lowering significantly the output power) => It's not a big deal too in my case, but it can be for other high demanding headphones.
As I am using it for only 1 day and a half, I am not sure the sound of the Kann Alpha is representative of its real qualities.
But actually, the output power already makes the job comparing to my actual Fiio M11+ Xduoo XD-05plus ...
So for less than €1000 => it looks like a good way for power demanding headphones.
I have still to test the A&K CD ripper and reader.. I am crossing my fingers and hoping that it can find on Internet the artists and track names automatically before ripping.