I cannot and shall not have any general conclusion. I shall say though that HQ Player upscaling all PCM to DSD only using HQ Player author Miska's specific recommended modulator (requires high power dedicated computer) > T+A DAC 200 ($7150 USD SRP) in DSD NOS (non-oversampling) mode rivals any cost no object digital playback system. I would not be afraid to compare it to a $100k MSB or dCS rack (I heard an $80k MSB rack and the latter.)
Regardless all the different potential perceptions and preferences experienced listeners may have for DAC A vs. DAC B: I shall say here and now that every single experienced listener employing a decent system or better who AB tested (takes only 20S to switch) PCM (even HR) vs. DSD on this system would prefer the latter every single time and without exception on all music programs. DSD's advantage in this system is well beyond the pale correlating to different taste. DSD appears to have 6-10 dB greater dynamic range just to start and no one in a quiet room prefers dynamic compression over the lack of same.
The primary difference in the above test giving DSD the immeasurable edge every time over any PCM is the fact that all the filtering, modulation and DSP takes place in DSD octaves farther from the audible spectrum than with PCM.
All bets off if HQ Player is not setup appropriately for DAC 200 or if a different DAC is employed.
Note I love John Darko's advice in general and am NOT contradicting his general advice. My advice is very specific first hand. If anyone wants to hear the above described AB test I'm 75 minutes NE of Salt Lake City. The rest of the system is world class including the room and cables.