New Luxman DA-06 doesnt sound so great. Will it get better?

I checked the voltage it is around 2.5V, varies a little bit because I am playing a cd.

As you appear to realize but others may not, 2.5 volts is the specified **maximum** output voltage of the DAC, that will only occur when the digital data corresponding to the instantaneous volume of the music is at its greatest possible value. Most of the time that voltage will be much lower, especially on recordings having wide dynamic range. And to be completely precise, that voltage is defined on the basis of the RMS (root mean square) value of a presumed sine wave, as opposed to the peak or peak-to-peak voltages of the waveform.

Also, John Atkinson’s measurements of the DA-06 indicate 2.36 volts, rather than the specified 2.5 volts:

www.stereophile.com/content/luxman-da-06-da-processor-measurements

Good luck. Regards,
-- Al

Thanks for your help Al, I am getting close to 2.3 volts.  Yesterday I went out and purchased a hdmi de-embedder.  I played DSOTM and the bells at the beginning of the song Time sounded simply stunning.  I've never heard them sound so accurate, pure, and "tight".  I am using an Oppo BDP-95 and it is able to convert DSD to PCM at 88.2khz 24 bits.  I do hear the relay click occasionally during the middle of playback at 88.2khz and less at 44.1khz.  I know that the Luxman is very picky at the cable quality for its coax inputs.  I will try some other cables that I have to see if that fixes the problem.  It is most likely losing sync.

I recently purchased sacd player Luxman D-06.. Directly through On Higher Sound the USA distributor.. 9 grand..This is the DAC DA-06 with transport.. Sounded quite nice out of the box, but limited in what I know it will sound like after burn in period. Only about 40 hours on it and it sounding better by the hour. So don't listen to those who think burn in is a crock.. Any inexpensive cheaply made cables, interconnects, AC cables and especially 'in between' components like the regulator will DOWNGRADE any fine equipment to where you are hearing them instead of your costly stuff.. Like buying a $50 steak and slathering 10 cents worth of ketchup on it. Find out what voltage you are actually running and have it adjusted inside the unit by a trained engineer or authorized dealer if it's Asian or European voltage. Change the duplex you are plugged into, I recommend Furutech GTX-D $275).. This cleaned up my grid so well I tossed my conditioner and plugged straight into the wall. The Luxman DAC you have suggests a substantial outlay of $$ with the rest of your stuff. So if you haven't already, you should upgrade your interconnects (spend about 8/900.00), Your Speaker cables (spend about $3,000) and your AV/AC cable & plugs (spend about $3 to $500 apiece). I have Silnote's top 'o the line stuff and the difference upon connection was mind blowing. BUT GET RID OF THAT REGULATOR and fix the voltage correctly from the inside. Then you will be on the way to what you think you should be hearing with the DA-06 as I am with the D-06..
Hope this is helpful and makes sense.

I have direct experience with DA06 and  Luxman MQ88 and Vivid Audio B1....  Using MacBook Pro....  Sounds amazing....  

I I have also used it in a few other systems...  Always s sounded like a class A component to me.

Perhaps it has something to do with it being a Japanese version....  Plenty of USA versions for sale....   

It's not just about the step-down voltage. 
The cycles (hertz) is also different in Japan vs NA/Eu. They are at 50Hz I believe. 60Hz in NA/Eu. Makes a difference!