Someone had to do it. What is it - successor to the Reference 1 flagship DAC from Audio-gd. Flagship DAC with balanced and current-mode outputs, eight PCM1704UK chips, triple-mono power supply (separate board, transformer, and power circuitry for left/right decoding/output stages and digital input section). Price - ~$1750USD or 10,000RMB When's it out - February, to our knowledge thus far Why is it called REF7 - The Ref1 was always the top DAC which was the successor to the DAC8 and added the new programmable DSP board, the DSP-1. The Ref2 was similar but with Phillips chips over Burr-browns and cost a bit less. The Ref3 was not a DAC at all, but a digital transport/digital switcher/upsampler unit. Then Kingwa skipped three numbers. New features - Screen, input selector, and 5 inputs (coax x 2, BNC, optical, AES/EBU) Bit rates - the PCM1704UK chips despite providing some of the best sound max out at 96/24. Those of you who actually have 192khz music will have to settle. How is it different - here's what I see. The output stages are new modules with some different parts I spy, the digital input area has some extra chips I assume to handle the new inputs, the power filtration circuitry is totally revised with all of the previously chassis sinked transistors now on their own heatsinks, the transformers are all r-cores on some nice looking boards. Then of course the extra inputs, curved edge Phoenix look, screen and input selector and moved power button. The chinese translation says that the clock is upgraded. Initial sound impressions - Kingwa says that it sounds slightly more clear. Will I buy one? Probably. It's expensive, but I do need the DSP-1 board that my DAC8 lacks, that thing can't even do 96/24. Since the Ref1 is no more, it will make an even nicer upgrade, once I can find the money (and a loving home for my DAC8).