When I tried the Directstream, it sounded brighter and less natural than the Perfectwave. More detail to be sure, but I wasn't sure I liked it. Perhaps I was just hearing more of the problems in my upstream (computer) source, but regardless, it was an easy decision to go back to the Perfectwave.
It's interesting to read about people having a different experience, especially since this thread is relatively biased towards Charles' "natural, organic" perspective. I kind of thought the "pro" Directstream crowd would be detail focused. Anyway, as said above, different systems (mine is Coincident speakers & Franks driven directly by the DAC with music served over ethernet) and different ears...
I wish it were easier to sample others' gear.