I'm scared to post my impressions lol...
But in any case, I spent about 2-3 hours direct A/B'ing yesterday. First I compared entire tracks, had a note pad and jotted down any elements of music heard, time stamps and everything. Compared. After that, I compared 10 second snippets of different songs.
I'm not sure if volume was perfectly matched, probably close enough. I used an iPhone app, placed exactly the same spot near the T1 placed also in a set spot (neither were moved during db testing), and recorded DB using both the V200 and O2 till they showed roughly the same averages.
In any case, I plan to do further testing before posting anything. Let's just say, the O2 is impressive to say the least.
Bear in mind, the DAC in question can have a big affect. Macbook Pro > Mini to Optical > Rein Audio X-DAC is an absolutely amazing sound. I doubt it's neutral, but it's so subtly musical, bassy and natural sounding.
Unlike using it from say, an iPhone (LOD) or even (to a lesser degree) USB from X-DAC, there's little to none of that sibilance you can on rare occasion get with the T1. It's a slightly smoother more analogue sounding like affair.