The Transporter is an exciting device because it's one of the early example of what I think of as the next generation of high end DACs, a generation that's savvy to the fact that not all music resides on shiny discs and takes advantage of that fact to eliminate jitter, give you access to all your music at once as well as hook you in to digital streaming audio sources.
It's Slim Devices attempt at a more high end DAC than their squeezebox (I hesitate to call it high end because I haven't heard it) as well as a front end with no jitter coming into the DAC (there could of course be minor sources of jitter internally, but nothing like you'd see from a crappy optical connection from a cheap computer sound card), driven by an open source streaming server. I've always been put off by the inability of DACs to eliminate jitter totally - a lot of them try various techniques to reduce the jitter, some of which introduce artifacts of their own, but none of them really deal with the fact that jitter is inherent in the SPDIF interface and other one way interfaces like it. By placing the front end controls on the DAC (and doing it well) they allow the DAC to be in control of the music.
Even if the Transporter turns out not to be perfect, it's a great attempt and really gets the idea out there. Someone else will pick up the ball if Logitech screws this up. I love the fact that it's streaming server is open source and supports lossless formats like FLAC and APE, and isn't burdened with any DRM. Other companies seem to think MP3 and (shudder) WMV is all anyone would ever need. This is the sort of thing that I'm afraid would be lost with a bigger company like Logitech at the helm. They have their own streaming media server that's not open source and I don't know what their position on DRM is. I hope they don't burden future products with unneccessary and burdensome anti-consumer technologies, or move the company exclusively down market by not placing a premium on high quality components as Slim Devices at least tried to with the Transporter (I'm still eagerly awaiting reviews to see how it turns out.)