Yes it does remember last settings.
And commenting on battery life. I have talked about this before, but it's tucked away earlier in the thread. Battery life is dependent upon two functions - the number of charge discharge cycles, and the sustaining voltage. If a Li-ion battery is not on a charge discharge cycle, and the sustaining voltage is low, then it will last for many years.
So what I do when the charger is connected for more than 24 hours, and Hugo 2 is on, is to go into desktop mode. In this mode, the charger supplies current that matches the current needed for Hugo 2, current from the battery is only provided for dynamic current surges, so it's effectively no longer in a charge discharge cycle. Secondly, when in desktop mode, the sustaining voltage is reduced to ensure maximum life. If you want to charge it to the max, ready for portable use, simply turn Hugo 2 off, when it will charge it to 100% and turn off the charger. The auto shutdown is disabled in desktop mode.
Thirdly, I made sure that Hugo 2 will function with no batteries connected at all, just the charger. So if you intend to use it as a desktop DAC, you do not need to worry about battery life.