Got it today. It's the newer D03K model. Mine came with a scratch-off online verification sticker on the box with a link to Fiio's website. Guess they must have picked up on the knock-offs that were going around. Mine was verified as genuine. The unit is very nicely built of metal, from outward appearance this could easily have cost way more than $30.
My impression after 2 hours of listening is that it doesn't sound that great. I would describe it as thin, somewhat harsh, and definitely fatiguing. I could see how some would prefer it's sound though, it is possibly more detailed, but in a way that is sort of digital sounding... There is no shortage of bass, that's not the problem. The problem is with the mids, the DAC has that V-shape sound where the mids are sucked out. There's a gloss on the top end but without nice mids it sounds harsh to me.
Maybe it will grow on me, but for now I actually prefer the audio out from my on-board sound (Realtek ALC898). For what it's worth, the ALC898 is "supposed" to be one of the better audio chips you can get on a motherboard, so compared to a $30 unit, it is not necessarily "supposed" to sound worse. Still, I expected the D3 to be a significant improvement, and overall, I would say that it is a disappointment so far.
EDIT
Have had a entire evening now with this DAC and I have to say my initial impressions still stand... it just is too shrill for extended listening. I have to say Yo-yo Ma sounded pretty good though. It seems to be best suited for classical or instrumental music. But it doesn't do vocals or rock well. It sounds like an EQ with a big peak at ~6-10khz is being applied, with the 500hz - 1khz region being sucked out. If I had to describe it in one word, it's be the opposite of "liquid", maybe sandy or grainy? This will be going back to Amazon.