I did a few searches and could not find a post detailing a direct comparison of the DAC performances of these two units. OK, some of you may be shaking your heads and asking something like, "Who cares?" I admit the question is more academic and disregards important factors like practicality and value. So first let me clarify that I am aware that this is not really an apples to apples comparison and I realize these are relatively bulky and expensive items - a standalone player costing ~$800 vs. and $700 amp/DAC unit. Also, I have seen numerous posts declaring that the HM-801's best performance is when well recorded, reference FLAC music files (from SD card or internal memory) are sent via line out to an external amp, and that it's USB performance is disappointing. On the other had, the iQube obviously needs a source, has no line out and appears to only accept USB input. Despite the above logistical differences, it would be great to hear from those who have directly compared these units using what member Edwood would says as, "...REAL headphones [IEMs or headphones] with REAL music..." Some specific comparisons that would be interesting for someone to detail are: 1) 16/44.1 music files: a. on SD card or internal memory on the HM-801/iQube V2 vs. same music via USB to the iQube V2 b. via coax line in to the HM-801/iQube V2 vs. same music via USB to the iQube V2 c. via USB in to the HM-801/iQube V2 vs. same music via USB to the iQube V2 [Note: The results for c. may not be a surprise based on reports from members stating that they did not like the HiFiMAN's USB performance. Nonetheless, it would be good to know how bad/good it is compares to the iQube.] 2) Same as above but using 24/96 files, ideally of the same music used in 1) above <--- [Edit: It was later determine that these comparisons are not possible. See follow-up posts for details.] Although I realize that this topic crosses over a few forums, including Portable Headphone Amps and possible Computer Audio, I felt this was the most appropriate area to ask these questions. Please me know otherwise. Looking forward to your replies. Feel free to comment on other ways you've compared the DACs on these items using high res material.