There were a few versions of that DAC. The Link III, The Link III Half-Nelson, The Link III Full-Nelson. Do you know which it is? Has it been modified and does it have the power base or does it use the "wall wart"? I had the Link III with upgraded op amps and caps and it sounded pretty good. Then I found a MSB Gold Link III and power base with upsampling, AES input, LME49720HA op amps and the improvement was immense.
I'd say the Link III are a good DAC if you want to experiment and tinker with changing the filters, caps, op amps, etc. but you will likely be able to beat the sound with one of todays inexpensive DACs and will gain USB as an input.
It it happens to be a "Gold" with PowerBase, then there is some real potential there.