My final bit of cable tests with my older Fiio 2.5mm balanced that I also have 3.5mm SE and 4.4mm balanced adapters.
Balanced sounds identical either 2.5mm or 4.4mm and are a slight improvement over 3.5mm SE. I'm sure balanced will have more impact with headphones, especially demanding ones.
Also, the inline play/pause/skip works with this Sony cable with one button in-line remote. Also tried with IEMatch.
If I had to toss a coin then I'd say my SE846's sounded marginally better (or different) via 3.5mm when using the IEMatch but not needed at all. No significant background hiss for me.
Glad to see double-tap has been included to wake up the M11. Always like that with my smartphones.
I can't find a thing to fault with this DAP at the moment be it design, UI, flexibility, connections, storage capacity and of course sound quality. I'm coming from previously: ZX2, X5III, ZX300, Mojo, HA2SE, DFR, Hugo 2.
Hugo 2 was best sound quality but overkill for IEM's and my SE846's picked up hiss & electronic switch type noises without using IEMatch.
Will see how audio out feeds my KEF LSX speakers this weekend (just for a play as they sound superb with Tidal direct/ my NAS files anyway).