The issue with the SW1X is it’s priced on point (or more) with Audio Note but it resells like absolute crap. Caveat Emptor if you want to sell it, can take a while and you will take a larger hit than if you were to resell AN.
It may very well be a better product than Audio Note, but personally I think their pricing is ahead of itself in the US market. It’s more than just having a good dac when you’re about spending $10k+ on a dac, you want to know you have some equity in the piece of gear (like AN).
There is no trade up program either, and SW1X is CONSTANTLY changing parts etc, so a 3.1 today will different than a 3.1 tomorrow...So although I love the quality and approach of SW1X it’s a hard pass for those reasons.I’ll let everyone else lose money on those dacs until they get traction at those prices.