You can also run SPDIF output from your soundcard to the DAC. Instead of USB. This has some advantages. Gaming is one of them, im fairly certain USB Dacs make aweful, or possibly don't work at all as gaming sound cards. With SPDIF >> DAC >> AMP >> PHONES, you get all of the sound processing benefits of a soundcard as well as the benefits of a dac. The other issue is USB Dac's only support 16 bit resolution, I nottice a signifigant quality increase when I Jump to 24bit on my soundcard, though im not sure this comparison is directly comparable to DACS, 24bit on my soundcard might not sound any better then 16 bit on a good DAC, i don't honestly know, but I do know that 16bit only support is a turn off for me, so whatever dac I buy will run on SPDIF (Digital out, also known as Coax and Optical).
To give an example, in my situation if I had the MicroDAC i could use my soundcards Digital out and i'd gain all the benefits of said soundcard for gaming (EAX, DXsound support, OpenAL, eq's etc). I'd also be able to playback at 24 bit resolution.
If i had the same DAC hooked up by USB it IS the soundcard, therefore none of my soundcards features would work for it.
Hope this clears it up for you, basically if your a non-gamer i'd go 0404 and the dac, just for 24 bit resolution support.
If your a gamer, consider X-fi
edit: USB supposedly has less "Jitter" then optical, so I suppose an argument could be made that less jitter is better then 24 bit support. I kinda doubt it though