It's really fairly pointless, but you could use something like Texas Instruments' TL780-05, a 1% "precision" regulator. It's debatable whether it would actually provide "better" regulation in your application, and even more debatable whether it'd have any meaningful (audible/measurable) effect on your DAC's output.
I mean, to put things in perspective, most reasonably common, reasonably affordable multimeters are probably accurate to 1% or less, so you're worrying about variances that are probably not reliably measurable. Considering what passes in the world for "12VDC", a few hundred millivolts from nominal on your DAC power supply is *more* than "good enough"...
Originally Posted by error401 I would normally expect a DAC using this IC/receiver combo to utilize the 96KHz pin on the CS8416 to select a high sample rate mode in the DAC when you apply such a signal. An obvious failing of the design. M4 is the CS4397 pin that puts it in high sample rate mode, you'll need to disconnect it from ground and apply an appropriate signal.
You will need to carefully lift the M4 pin (2) from the PCB (...), and bridge it to the CS8416 96KHz pin (16) with a wire. This pin is an output so shouldn't be connected to anything and you won't need to lift it.