ps audio perfect wave transport

I think the PS Audio website will have all the info you need.

PS has been promising a cd product for years now. First it was going to be a "memory player", which was never produced Now this which looks to be a one disk music server, coupled with a renamed DAC product. I think PS needs a credibility check. All marketing hype, no product?

There's a fairly detailed description in the February Absolute Sound, in RH's coverage of the RMAF. Check also the Music Direct website.