x RELIC x
Headphoneus Supremus
Now that I've lived with the Mojo about a month I think I'll offer my two cents. Overall it's impressive in just about every way that matters and is a stunningly good value. I would not hesitate to pay $600 just for the DAC portion alone. The fact that it has a pretty damn good headphone amp built in makes it a complete no-brainer.
The only slight drawback I've noticed (and it could be just the character of my headphones coming out) is that it can sound a little bit polite at times. Additionally, the bass is pleasing but it doesn't hit very hard nor does it go all the way down. In just about every other category it is excellent to amazing (especially considering the price). I've heard DAC's costing twice as much that didn't have this much resolution nor rendered the music in such a listenable and pleasing way. I have no doubt it will be looked back on as one of the most significant audiophile products of all time.
You essentially are just hearing the DAC as the 'amp' is nothing more than the necessary I/V conversation and six small discrete resistors on the output. This is partly why the output is so transparent.
Interesting comment about the bass as the frequency response is ruler flat in the bass. I suspect you may be used to added amp bass colouration from another device.