Lots of trade offs both theoretically and in actual listening. I've compared optical and ethernet on both sides of two streamer setups, where first streamer used only as server, SOTM and OpticalRendu used as streamers. Also with only one streamer, in this case optical only in front of streamer. Results have been varied and its difficult to pinpoint the reasons. If one has ethernet ISP there is issue of adding extra unneeded conversion, seems logical there would be trade offs in this case, adding extra equipment to streaming chain is always chance for more noise and jitter to enter chain. Sure, optical blocks noise, but it doesn't eliminate noise creation within any particular optical component. Now if I had optical ISP I'd likely want to stick to full optical chain for same reasons.
So, in listening tests with optical conversion in front of my streamer I preferred ethernet over optical via two generic FMC, both lps powered with quality DC, AC cables into power conditioner or lithium ion battery pack. Optical and ethernet noise floors very similar, optical sound somewhat thinner, less natural. Now, optical POST server, as in two streamer setup, I prefer optical with OpticalRendu vs ethernet with SOTM, also prefer it over my new custom build streamer using it's usb output. Now is purely due to optical or is OpticalRendu simply better streamer than SOTM SMS200 Neo?
So leaving out complications of my two streamer setups, in thinking about only one streamer, so ethernet vs optical post router to streamer. Comparing fully optimized optical and ethernet is difficult. I already have fully optimized ethernet setup which beats best optical I've tried. Now my idea of what makes up a fully optimized optical path is, two Sonore OpticalModules both lps, good power cords into power conditioning, and then optimized optical transceivers such as Finisar 1475 into each, and don't forget about optical cables which may or may not affect ultimate sound quality. Now I don't know if EtherRegen can even operate with these Finisar receivers, if it can would be good upgrade to try. I just installed AfterDark Project ClayX Constellation Finisar setup post first streamer last night, this package offers two Finisar 1475 receivers which plug into my OpticalModule and OpticalRendu and upgraded ref quality optical. Based on my research this is likely to be ultimate optical offered at present. This setup with two OpticalModules or perhaps even with generic FMC with removable transceivers could be used in front of one streamer setup.
Bottom line, the above may be hard to follow, but essentially I will be testing if optimizing optical pays off. I've already discovered a single OpticalModule vs generic FMC in front of opticalRendu is superior, this will up my game even more. As mentioned previously two OM with these modules or possibly one OM with etherregen if it will accept Finisar, or to make things even less clear, router with optical OUT capability with one OM, if router can handle Finisar receiver. Not easy to follow, I know.
Based on reports of many these Finisar receivers far superior to stock receivers, I shall find out this week, letting Finisars and cable burn in at present.