Well it's possible that the DAC component may make a difference but personally I don't see how. And even if it did, I doubt it'd be "night and day"....
What would be more handy is one of those surround sound adapters that can take multi-channel digital-in & remix it into a stereo format so you can get virtual surround sound.
You'd plug it into any gaming consoles you have, if you have more than one you can use a toslink splitter to switch between them.
Unfortunately it's not looking like one can do multi-channel digital-in via a HTPC w/anything newer than XP.
Which is what I was hoping to do.... (haven't given up yet)
The most popular of these sort of devices are the Astro Mixamp, and the Victor SU-DH1. (make sure you get this Asian version not the NA "JVC", as it has the ability to take DC-in, not just batteries)
The former doesn't do DTS 5.1, which by all accounts is a tad better than DD 5.1.
But not may games use DTS 5.1 compared to DD 5.1, more movies do though so it depends on what you'd mostly want it for.
And if you care the Mixamp also has a mic built-in.