@rja I have listened to the M1 SE and M3 via a renderer plugged into the USB. I also listened to the M1 SE via USB and the Ethernet.
In the end, I think it very much depends on your musical tastes and how much precision matters. Via the USB the M1 SE is objectively the better DAC. That being said, “better” from a technical perspective doesn’t mean it would be more enjoyable.
If precision and accuracy is important and the extra $4500 is not financially taxing, then yes, I think it is worth the step up based on my listening. As I said above, it might be possible that the gap between the M3s USB and Ethernet board is much greater than M1s. If that is the case then maybe I am wrong.
In the end, I think it very much depends on your musical tastes and how much precision matters. Via the USB the M1 SE is objectively the better DAC. That being said, “better” from a technical perspective doesn’t mean it would be more enjoyable.
If precision and accuracy is important and the extra $4500 is not financially taxing, then yes, I think it is worth the step up based on my listening. As I said above, it might be possible that the gap between the M3s USB and Ethernet board is much greater than M1s. If that is the case then maybe I am wrong.