For the low price and number of features, made in China, you can expect they'd use lower quality parts here and there, if there is a channel imbalance at lower volumes, try changing the volume on your computer to 50%, so you can increase the volume on the FiPh?
Using it as a DAC alone you can still connect it to an external amplifier.
For the record here is the no-name DIY type DAC I bought before I discovered the FiPh, from seller along1986090 -
http://www.ebay.com/itm/Finished-CS4398-CS8416-USB-DAC-With-Transformer-case-/120769856777
Today I tried the internal USB chip (CM102) directly to my computer, instead of my more advanced setup using the Musiland Monitor 02 US Dragon and a fancy coax cable to my DAC's coax input (CS8416), usually with upsampling set to 192kHz in the Musiland control panel.
I don't like the DAC section of the Musiland Dragon very much and not the headphone amp in it either, so it simply became an exclusive USB->coax bridge for me. Note, the Musilands are according to some views the cheapest 'high-end' USB->coax devices.
So in summary it's like this
1. Laptop -> USB cable -> CM102 -> CS4398
2. Laptop -> USB cable -> Musiland Dragon (FPGA) -> coax cable -> CS8416 -> CS4398
Listening with an external amplifier via the RCA jacks line-out, into an Audio Technica ATH-ES10 with velour pads. Line-out changed to OPA1612. Using a fancy USB cable too.
Number 1 has more 'presence' in the sound while number 2 is a little bit fresher like menthol. Number 1 sounds a little bit compressed while number 2 has more 'emptiness' in the sound and seperation, however the emptiness almost makes it feel like number 1 has more realism at times.
The actual sound quality level, like tone, appears like it's exactly the same.
Tried with Sony SA3000 and felt the same differences. Switched back and forth at least 20 times on each.
So from what I can tell the CM102 chip conveys the exact same sound quality, only with some slight differences in 'presence', 'compression' (or confinement) and realism (sensation of higher), versus a slightly fresher, emptier and more spatial sound from the Musiland / coax.
In joy factor alone, the CM102 is fine, I actually like how it sounds. The usb->coax Dragon and OPA627 on the line-out have the more ultimate sound, which I'd use if I made a sound system in a cinema or nightclub, or something like that, though I like the joy factor in the sound of CM102 and AD797 on the line-out. Likewise in my amplifier I respect the sound of OPA627, which seems like the least digital sounding chip there is, though I still think some other chips sound nicer.