Here I am quoting from a respected DAC designer:
OK...see if this makes any sense to you: if clocking gets corrupted with a single channel traveling on one wire then how would it make any sense to attempt to coordinate three separate clocks on three separate wires?
It makes no sense.
If I2S was actually better they would be using it in recording studios and they most certainly do not.
If I2S was actually better then nearly every company in the audiophile industry would be promoting it and they most certainly do not.
There are a small group of Chi-Fi manufactures who started promoting I2S and the audio-fools bought into it hook-line-and-sinker.
If I2S sounds better in a specific DAC it is only because the other digital inputs on that DAC are lacking, not because I2S is inherently better.
The above excerpt is from pg 7 of this excellent thread.