I've got a loaner from VentureCraft - thank you.
It is great. Remember, I reviewed the first unit, the one built for the iPhone 3G/S
and loved it. The new unit is much better - toslink optical out, better protective case, better selection of upgradeable components (pricey though), easier to access gain and reset switches and some new mode called ASR that is supposed to help expand the highs for lossy music. I'm not one for psychoacoustics, so I'll leave that for you boffins.
Suffice it to say, I'll be queuing up at the Tokyo headphone show to get one. I love that it does sport everything all in one. I also own the CLAS and National - overall a more powerful system, but one that is more than twice the bulk. Remember, the GoDap works with every iPod that has a 30-pin, at least since 2004. I used four today already with it and my iPhone 4s. It burns through battery at the rate of about 8-9 hours per charge, but it also fast charges the iPhone when you just need the juice.
There isn't anything on the market like it that I've seen. I'm also perplexed that more people aren't talking about it as it is the most intriguing transformer gear for the iPhone in the world and one I can't do with out - especially to hook up to my home system. I'm not a 24/96 person though I do have some albums. So, the loss of it isn't a problem for me.
Now, for the sound, it is similar to the older model: very clear highs, mid-focused with great separation in the bass. There is background noise if you use sensitive earphones, but it's regulated and not grainy. Again I'll say it, I will be picking one up at the headphone show... or borrow this one and leave somewhere... (evil grin).