[cpw]

I also was wondering about this. I was so happy w/ the sound of my system I was a bit paranoid about compromising sound by splitting the signal. I'm sure splitting in itself should have next to 0 effect but one of my runs was going to be much longer than the other and w/ a different type of interconnect and going to an HT amp w/ unknown input impedance characteristics. I decided that rather than risk allowing interference in from the long run (27'), I'd buy a switch to take the unused cable out of the circuit completely. Head-Fier Fiddler makes a nice looking passive switch and I've got one on order. His cables also look nice so I ordered some of those too! I'd try it to see if you hear a difference; otherwise a switch like Fiddler's might help.
CPW

 

[Marleybob217]

This thread might be dead, but I wanted to contribute.
 
I'm splitting a signal from my dac using rca y-splitters like anyone else. I can tell you now that the splitter will not degradate the signal, the added receiver will. 
 
When I unplug the second receiver from the splitter the sound is good, when I plug in the second receiver the sound turns very narrow (almost mono sounding), grainy and just very bad. This actually is very noticable, It's like the sound get's chopped in half, like literally chopping the two channels in half. 
Btw, I'm using a mono to 2 times mono splitter. Also, even when the second receiver is turned off, sound degeneration will still occur.
 
Maybe it has something to do with my two receivers, maybe the guy who sold me the splitters sold me the wrong ones (unlikely), but the sound is definitely being degenerated. 
 
 
EDIT: I just found out I had another bad splitter somewhere in the chain. This was a male male mini jack to 2 female mini jacks splitter. I used this to interconnect mini jacks, however this was not the right use of this splitter obviously.
I have very cheap gold plated rca splitters, but I don't hear any sound degredation.

 

[xxicrimsonixx]

Using too many splitters in series will cause degradation, as well as length of cables (being too long) can also cause signal degradation.

 

[Marleybob217]

 
Especially when you use one of these to connect two mini jack cables.
Using a cable splitter from the wrong end, fail.