Hi IMAWolf,
I read just now your post. Recently I buy a Carat Ruby2, and to my surprize from the start I like it. After 6 or more hours of listening via that the music is still alive. In user manual is mentioned, needs 50 hours of aging with the musik just you like.
The sound is transparent, I fell it equilibrated, also in low frequencies (I test it with 32ohm headphone), but mostly I use with AKG K141 Monitor (600 ohms). Basically they recommend the range of headphone impedance to be between 24-300 ohms, on 600 ohms the power is still enough for me.
On my laptop (Dell Inspiron 1564 with Win7 Enterprise) I use as player foobar2000, and without API exclusive mode output support (WASAPI) I heard some knocks during listening the music, now just rarely appears - but still do not know the real reason, but seems to be from my laptop.
Advantage: optical input (24/192kHz) and USB (24/96), selectable output (headphone and line) - but that for someone can be also desadvantage.
Desadvantage: no coax input, can not be powered just via USB, needs external supply (included in package)
I did not open it, but from holes can be seen, they really use good components: OSCON and WIMA caps and some Visay resistors (but you can see a lots of SMD resistors, which origin can not be identified). Till now I did not hear about OSCON capacitors soud character, but in output stage I plan to change them with Fine Gold Nichicon or other audiograde.
From overal point of view I am completely satisfied with that.
Recommendation: in S.Korea is very cheap, I bougt for 160€ (230k wons).