@ArbitraryG
Over the weekend after running the Hugo 2 24hrs / charging battery fully etc. It's still early doors so there maybe further improvements from running in.... I'd imagine minimal as the The Qutest didn't really change much when I had it. Can't recall the TT2 as I just remember it sounding great from the word go.
These are the systems I tried.
1. Hugo 2 < USB < iPhone < Roon
2. Hugo 2 < USB < Pi4 with Power Bank < HQPlayer Server (optical connection) < Roon
3. Hugo 2 < SRC-DX Dual BNC < Pi4 with Power Bank + £10 USB cable < HQPlayer Server (optical connection) < Roon
4. Hugo 2 < SRC-DX Dual BNC < OpticalRendu JS-2 + TQ Silver Diamond USB < HQPlayer Server (optical connection) < Roon
Main system is the same as number 4 but a TT2 + JS-2 power instead of the Hugo 2. HQPlayer is set to 24/768 with Sinc-Mx filter and LSN15 shaper. Headphones used were Meze Elites.
1. I enjoyed this and it was of course the most convenient and easy setup on the fly. Bass was a bit flabby, uncontrolled and sounded a bit shouty at times with some edginess but still enjoyable. Soundstage sounded flatter, compressed and imaging not as clear.
2. A lot better. Bass sounded more controlled, while it lacks the depth, weight and tightness of the TT2 it was very impressive. Mids were clear and highs were good. No obvious edge to them but still a little bit sparkle. Soundstage was much improved here and layering a lot better as well.
3. Take number 2 and reduce RF. Sounded darker but also more compressed... it felt like some of the energy and dynamic feeling was missing compared to number 2. I'd imagine number 2 has some electrical noise getting through which gives the impression of a bigger soundstage etc.
4. Again, same as number 3 really. Very clean & darker sound but it lacks the depth, energy, soundstage & better instrument and voice texture etc of the TT2. At the same time, it misses the extra sparkle of number 2 that makes it fun to listen to.
So far, while 3 & 4 maybe better from a technical point of view but number 2 was the most fun to listen to. There is a clear difference in terms of quality between the the Hugo 2 and TT2, as you would expect. You just get a lot better bass/weight, texture and space around the instruments etc. Sounds more real, solid if you like. But it is more than 2x the price!
But, number 2 sounds great, a heck of a lot better than the K&N SE200 I tried. I need a transportable system rather than portable and I feel it offers a lot of what the TT2 can do but in a lot smaller foot print. I can fit the Hugo 2 into a pocket on my 13" laptop bag and just connect it to the MacBook Pro with HQP and end up with a very good system when I'm away from home. The SRC-DX may add some benefits for the H2 but it also becomes a more bulky system with it and the extra cables.
So no, it's not a TT2 replacement but it's still a keeper and does what it's designed to do and does it really well! I'll probably just buy a reasonable USB cable for system 2 and that will do me for my transportable kit.