I thought that a multi-bit ladder DAC is supposed to interpolate the data on the frequency curve more accurately and smoother than delta-sigma.
Interpolation has nothing to do with the DAC architecture - this is the domain of the digital filter. Schiit's claim to fame is that their oversampling filter 'preserves the original samples'. Rob Watts of Chord Electronics wrote an interesting post on this subject over at Head-Fi (link here).
My own first-hand experience with a Modi Multibit in my system as well as listening to other Schiit DAC's (Gungnir Multibit and Yggdrasil) at head-fi meets have taught me that the overall Schiit house sound can be rather forward and aggressive at times. I did detect a slight 'edge' to vocals as well as plucked guitar when the Modi Multibit was in my system. So I don't think you're hearing things that aren't there. However, some of it was reduced by keeping the DAC powered on for at least 24 hours. Are you doing the same for the Gungnir?