Ok with that said; here's the deal with the analog output section of the Valab Dac.
The output current is completely derived from the 8 Dac chips. The Dac chips are all wired in parallel, imagine them all stacked on top of each other. In fact this is how the earliest versions of this Dac where assembled. Yep, there were serious overheating problems with that design. Laying them flat against a heat sink, like on the Valab Dac was a much better idea.
Anyway all 8 legs of both the left and right analog outputs are tied together. (Draw out and study the solder traces on both sides of the tiny Dac board to see how that was done). Looking carefully you will see this collective analog "current" first touches the small blue I/V resistor. This simple resistor is connected directly to ground. Then by PFM (pure fricking magic) this passive resistor converts the Dac output current to voltage. That's how we obtain our 2.1 Volt output spec.
Ok, looking very carefully at the board you will see the positive signal now travels through 2 little magnets, these RF noise blockers are also connected to ground via a very tiny surface mount cap. From there our positive signal reaches the passive coupling cap that everyone is so excited to change. The caps outputs to a solder trace then to white copper wire which hooks to the RCA Jack.
Simply put the positive analog signal path only touches the I/V resistor, passes though a little noise filter, and finally exits through a capacitor which in turn is really nothing more than a filter (A filter that blocks DC power). What remains is the positive A/C voltage that is our pristine musical signal.
Looking underneath the little Dac board the ground side of the I/V resistor follows a solder trace to the white wire that hooks to the ground of the RCA jacks. (Only by drawing this on paper can you see how this really happens on the board). Draw your schematic! Pretty Please, With Sugar on Top!!!
Ok not so fast, there is a ground trace that returns to both I/V resistors via a pair of tiny 47K ohm surface mount resistor. Some people call these idle resistors. If the Dac is on but no music is playing, your upstream gear may send a small amount of DC offset back towards the Dac. This is simply shunted to ground with these little resistors.
So you ask .. Are these idle resistors required on the ground circuit? Is the little ferrite filters required on the positive circuit? Well, in most cases probably not.
So how simple could we make this analog output section?
Well you could literally solder the negative wire of an RCA cable to the output of the I/V resistor, and your favorite coupling cap to the positive side of the I/V resistor. Last step; solder the positive wire of the RCA cable to the output of the cap. You’re done. Can you imagine that in your head and/or on a piece of paper?
Well that's it!
I introduce you to the real genius of the Valab DAC.