- DAC Analog OUT to Preamp IN (separate input).This connection uses the 203s DAC and should sound different from the sound of the external DAC (unless the 'sound' of both DACs is similar which is unlikely).
vs. Oppo S/PDIF+DAC S/PDIFThis connection does not use internal 203 DAC.
Oppo S/PDIF+DAC vs. Shield USB+DAC
Oppo Analog OUT vs. Oppo S/PDIF+DAC S/PDIF, and it sounds near identical (suggesting Oppo altering signal)This should sound very different as in Oppo vs. Shield above ... 203 Analog Out is using the internal 203 DAC.
I think you should separate the two players (UDP-203 and Shield) and isolate the settings for each.
Shield appears to not have suitable connections as a streamer without the internal DAC ... but does have a pass-through capability.
UDP-203 does DSD while Shield does not.
The quality of Cables alone could contribute to attributed differences.
As stated " sounds markedly different " ... please elaborate on the sound quality as to which is preferable.
If the goal is use Shield as a high quality Audio Streamer then isolating the settings for Pass Through is important.