Timely topic @mountz !
I just took delivery today of the same. I'll be watching this thread with interest..
I have the Ares II, not the Terminator. I concur, if using OS, I use the ‘slow’ filter vs ‘sharp’. ‘Sharp’ is just too ‘digital sounding’ for me. But following the latest firmware updates, I actually prefer NOS mode, which does not use the filters at all. I feel overall that provides a more analog sound, and as primarily a vinyl guy, I have come to prefer the NOS mode.
Play around with it, you won’t break it, and over time, figure out which you like best. And it could be that certain recordings like one over another.
Great DAC, enjoy.
I used to have an Ares2 and at the beginning I always thought NOS was the only way to go. To make a long story short, once I upgraded to a high quality interconnect, the OS setting was much superior in clarity without experiencing any brightness at all. Problem is I use a $750 Tubulus Concentus I2s cable, not for everybody, . Point is, everything matters in a system. Wish it was simpler, it is not. Enjoy the journey.