I've had my V-DAC for about a week and I'm thrilled with it. I have a Teac PD-H300mkIII connected via the optical connection and the thing just sings - far better than through the CD player's line output. With the Little Dot 1+ and SR125i, I now have a budget/mid-fi desktop setup that suits my needs perfectly. Wallet closed!
Well, except for CDs for the ever-expanding collection... (I recommend www.secondspin.com)
This thread was very useful to me when making the same decision. Most people who have heard both dacs seem to think they're on par, but the 3rd to last post was very useful as it emphasized the different signatures of the dacs and their compatibility with (bright) headphones that the poster & I both own.
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