Thanks Jerome, but I don't think Charles was meaning to put down my Schiit.
His point is valid, there is a pretty decent sized (priced) gulf between budget DACs and "high end" units. The Bifrost got good reviews when it first came out and many people said it was pretty close to much more expensive DACs. The upgrades aren't a subtle change... the DAC is significantly improved, so I too share Charles' curiosity about how close it is to DACs in the $1k+ range. And I put it out there that the Bifrost may embarrass some much more expensive DACs myself.
Hopefully, Schiit's revised Bifrost will deliver the goods and make for a real top-end source for an unheard of low price. We need more gear in the audio industry that delivers true value for the money, which is one of the reasons I started a side-biz making cables... I don't believe any IC cable should cost more than around $500 and I truly believe I'm putting cables out there that will destroy the current cable pricing standards. I would put my "cost-no-object" cable for $299 up against any cable out there regardless of price. My Omega speakers (specifically the new RS5 driver) achieve that sort of value for the money too, they compare favorably to speakers that cost 10-30x the price.
Charles, if you are curious buy one and take advantage of Schiit's return policy if you aren't happy with it. Or, I have seen used Bifrosts going for around $200 w/o USB, then spend $70 on the upgraded uber board. Add the new USB for $100 if you need it. The upgrade boards take very little time or skill to install.
I originally spent $400 on a new "B-stock" Bifrost, they are either customer returns or just a way for Schiit to give a bit of a break since they never run specials or sales. The upgraded boards were $170, so I have $570 into my Bifrost now, a new one with uber board and USB is $550 I believe... so I'm doing ok, it's still a very affordable DAC.
I can't wait to hear Schiit's new cost-no-object top of the line DAC when it comes out, I think it's going to be very reasonably priced as well, maybe 2x the price of the Gungnir or so...
Jerome, I am interested to hear what you think of the Gungnir when you get it. Be patient on burn-in, my Bifrost took a while to sound decent... it was pretty bad right out of the box.