Not a very good reviewer, but here goes my take. This is not to be considered an all out review, but rather my impressions.
I have listened to the following DAC sources (all from computer using foobar bit perfect FLAC or ALAC files) and using the various cans listed below, as well as my Swan M200 desk speakers:
1) XFi
2) Emu 1212m
3) HR TBH 2007
4) Firestone Spitfire with PSU
5) HR Desktop AMP/DAC (with basic Desktop innards)
6) Lavry Black DA10
7) HR UltraMicro DAC
I have grouped them for several reasons. I found the first group 1-4 to be all very similar, although I got some mild improvement with the spitfire with opamp rolling. These were all pleasant sounding, and I could be happy with any (if I did not read this forum that is
The Desktop did have improved, more clear sound than the first 4, and I was very happy with this unit for about a year. My son is head over heals for this as his pre-amp currently.
I got the Lavry after reading a ton here, and it is a great unit also. Even with the Raptor and tube rolling, I still found it a bit too dry for my taste. Have not hear the Benchmark, and if it even more analytical than the Lavry, then I know I wont want one. The Lavry is now doing GREAT with my home speaker based system. The XLR outs, which required the special interconnects before, work great with my new amp, and I have computer and CD/DVD source running thru the Lavry via the real balanced connection.
I suppose I can sometimes be at fault of running with the FOTM crowd. I did order an UltraMicroAMP early on, and have fallen head over heels for it in my office computer based headphone system. It provided that little bit of extra warmth my system needed, without having to go to really mushy tubes in the Raptor.
Sound is sweet and clear, and just right for my listening preferences. As you will not here, I am only providing feedback on what I want to hear, and trying to translate that into some terms you can use for your decision.
One other positive note, this think is small, quiet, and has all the connectivity one could want. It is really doing well in my new Mac based system running off the USB, no drivers, no headaches. I put a Y mini stereo connector to the line out plug and run both my Raptor with a Zu Pivot cable, and some generic cable to the powered desk speakers.
Excitedly, my favorite DAC today. (Hell I read HeadFi, you know that wont last)