Has anyone heard the new PS Audio Perfect Wave?

Mrtennis-
I've had it for about 5 months. I feel it took it about 2 months to mostly break in. I listen to it in Native mode with filter 1. I run it single ended into a Pass X-1 pre amp.

If you are not using the HDMI you are not letting the DAC do its IS2 thing(until the bridge is released), which is where this unit shines IMHO. Running it native (with no up-sampling or down-sampling) is also important. YMMV

With regard to comment about unsatisfactory sound from the PS Audio PWD, I had a similar concern when I first got the PWT/PWD combo about a year ago. The digital volume control became the focus of my concern when I learned that this type of control must discard information in order to lower volume which explained the increasingly flater sound as I turned the volume down. I immediately bought a Pass Labs X 0.2 three piece chasis preamp. This made a phenomenal difference in the quality of the sound emanating from my Martin Logan Vantage speakers. This was the real thing for me; now, the PWT/PWD combo and the X 0.2 are keepers.

With regard to the comment about unsatisfactory sound from the PS Audio PWD, I had a similar concern when I first got the PWT/PWD combo about a year ago. The digital volume control became the focus of my concern when I learned that this type of control must discard information in order to lower volume which explained the increasingly flater sound as I turned the volume down. I immediately bought a Pass Labs X 0.2 three piece chasis preamp. This made a phenomenal difference in the quality of the sound emanating from my Martin Logan Vantage speakers. This was the real thing for me; now, the PWT/PWD combo and the X 0.2 are keepers.