[HiFiGuy528]

Looks similar to Explorer but with RCA outputs.  I'm gonna see if I can get my paws on one for a first look video.
 
http://www.meridian-audio.com/en/collections/products/director/37/
 

 

[telecaster]

Looks yummy! The explorer is for computer only, and has a variable analogue output plus fixed 2V but only on mini jack, and also a toslink output.
On the other hand Director doesn't output any digital, it is solely a DAC. I wan't one for my stax amp. Oh and the Director has the apodising of the high end Meridian DACs.