Yes, way, way, way better. With normal speakers in a room both ears hear all speakers and all reflections and reverberations of all speakers. The A16 emulates all that, and in accordance with your personal hrtf, for up to 24 speakers (16 in the older hardware version), and with headtracking (so the virtual speakers stay stationary). The result really sounds like speakers at a distance in a room. But you have to do a personal measurement in a room with speakers for best results.
What do you mean by a personal measurement in a room with speakers? What does it matter how big or small my room is if the headphones are right on my ears?
Now I have world-class transport, dac, and headphone amplifier. Where would be the best place to place it in my chain; between my PC and transport, or between my transport and dac (both in digital domain) or between my dac and headphone amplifier (analogue domain)?
Also- I once tried a speaker emulating program on my computer which I believe was called OOYH. To my ears it was terrible. It did have a lot of the reverberations and reflections of speakers but it severely altered the frequency response and all the intimacy of headphones was GONE. I assume I can expect better with this product.