At a recent Rave meeting we listened to the PS Audio DAC 3 [$699]. A Theta transport was used. The com petion was the Lector Mk1 CDP [ used $1750], Audio Note Kit USB DAC [ $2200] and Musicstreamer USB DAC [ $299]. Maybe the PS Audio DAC was not fully broken in but in most everyones opinion it finished last. The Lector was the winner in the system at hand. Second was the Musicstreamer. Followed by the tubed Audio Note.
Well that was the general consensus at the demo , however in all fairness to the PS Audio one must listen in their own system. Its all about synergy, so give it a go. Good price.
charles