My gut tells me yes. Only mods done to the Zhaolu is the cap bypass & opamp upgrade (LM4562, if I remember correctly - it's been a while since I installed them and I rolled a bit before settling).
V-DAC is overhyped. It's onboard sound with a lot of added warmth. That's it. No depth, no detail, no dynamics, no width. Probably because it has a crappy PSU and a lot of cheap junk in the signal path. Still, pretty good value I guess.