You only speculate here. Again i would say hearing and comparing the way TT2 alone direct path is the only way to know. The bnc cables have probebly some loss to unless you have really good ones and that probebly still have some loss but less loss.
Also hifi seems more complex then we know
Xrelic posted this recently. On about how transparancy degrades passing through longer paths if i understand it right. Even down to solder and metal can effect the sound. Still this is about balanced vs unbalanced but you add more electronics and metal and solder the signal has to pass through right. And mscaler also have own power suply that i can think impacts sound. Really do i am not an technical expert whatsoever so i only slso speculate.
The following is a quote from Rob and applies to all his designs and SE discrete DAC philosophy:
"Well this is a complex subject, and sometimes a balanced connection does sound better than single ended (SE) - in a pre-power context - but it depends upon the environment, and the pre and power and the interconnect. But the downside of balanced is that you are doubling the number of analogue components in the direct signal path, and this degrades transparency. In my experience every passive component is audible, every metal to metal interface (including solder joints - I once had a lot of fun listening to solder) has an impact - in case of metal/metal interfaces it degrades detail resolution and the perception of depth. So going balanced will have a cost in transparency.
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