Wadia 321 DAC VS. PS Audio Perfectwave II DAC. Any thoughts ?

which is a better DAC. Why? Strong points and weak pts in each? Thanks!
Wadia is gone, so forget about any service. The 321 was not even a “real” Wadia. The age of both makes me think you should be looking at more current pieces.
Wadia went through some ownership changes and McIntosh eventually took it over as part of its MBO. While the website is still up, it is for service. The products are no longer being manufactured.
Mcintosh did shelve the Wadia line but offed support to 3rd party outfit in CA.  di122 and 322 do DSD but not the 321.  These DACs are thorough implementations of the ESS SABRE 9016S.  "ESS Technology Sabre 9016S, an eight-channel DAC chip that achieves a claimed 128dB of dynamic range when used in a quad-balanced stereo implementation"  and that is what the 321 has.  Also implemented volume control of the SABRE so It makes a nice digital only preamp.  you can find the 321s for $1.2k  the 322 has much the same specs as the Mcintosh D100 and is much harder to find.  321 is a solid piece but up to you if its worth the $