Dekay and Megasam, thanks for steering me in the direction of the DAC 1.1 in my quest for finding audio nirvana on a budget.
As this newbie is finding out, many variables contribute to the overall character of the sound in ones system. Along with the addition of the Bel Canto DAC, I have gone through a two month journey of buying and auditioning different interconnects, and digital as well as speaker cables. Amid all this cable swapping I've also included the addition of various isolation products and power cord upgrades. And I can't forget my speaker upgrade too. All of this has occured almost simultaneously, and therefore I feel I cannot comment as definitively as Dekay and Megasam on the character of the DAC 1.1.
I have made only one before and after comparison, and that was when I first installed the DAC 1.1 fresh out of the box. The areas I noticed differences were in the superior bass reproduction and soundstaging over my Musical Fidelity E60's built-in DAC. Being that the DAC 1.1 was a brand new unit, I was aware of the same tipped up treble and initial overall sizzle that Dekay spoke of.
After all the experimentation and owning this DAC for over a month, I can say that my system is more capable of producing a lifelike and sonically enjoyable experience than I ever imagined possible. All this while losing much, but not all of the electronic sound I endured for so long.
I'm sorry I can't more confidently comment about the virtues of the DAC 1.1 upgrade. But I will say that my impressions are that this is definitely not a product with a laid back character as it's predecessor has been described. Even with it fully burned-in, my system is very lively. Sometimes too much so. The blame for that may lie with my associated equipment, a SIm Audio Moon I-5 integrated amp and a pair of ProAc Tablette 50 Signature speakers. I must note that prior to all this mass chaos I was primarily listening to a pair of Sonus Faber Concertinos. Now I mostly listen to the ProAcs. I have A/B'd the SFs and ProAcs, and the Concertinos are definitely much more forgiving and less fatiguing. So it actually may be a tribute to the Bel Canto that my system is more detailed and at the same time smoother even while using more revealing speakers.
My advice would be to assess your current system and think about what you hope to gain through the upgrade. If you like the character of the Bel Canto, but are yearning for more life and energy from a system that you feel is veiled and lifeless, I would say go for it. However, if you're happy with the performance of your DAC 1, I would try if possible to audition an upgraded unit before having the irreversible operation done. The upgrade may result in a system that isn't as relaxing as it once was. Karen Carpenter just might turn into Christina Aquilera.