Hi Zugusland
What I am referring to is the PDX Level 2 that costs about 4.5K depending on options. Lenehan Audio is basically a small outfit here in Aus and doesn't have much of a retail presence preferring to sell direct which keeps prices lower. In the US Swap Meet Audio handles their stuff:
http://www.audiocircle.com/index.php?topic=96253.0
At 44.1 the PDX easily outperformed it but when upsampled it was closer - but the PDX was still better.
This was not just my view - here is what another person said:
'Yep, the MPD-3 most definitely has a smooth sound (one listener used the term "lifeless") when fed straight 16/44.1 audio via USB. Kind of like NOS without the schweppervessence. A very clean and composed sound. With the right kind of music it'd be a most relaxing experience, with the wrong kind you probably "can't get no satisfaction".
And yep, it changes a lot with upsampling. I took it all the way to 352.8kHz (8 x 44.1) with both CoreAudio and Izotope SRCs in Audirvana Plus 1.3.5. The top end gained in clarity and sparkle, the bottom end in stomp and bite. Sounded pretty decent. The CPU load was pretty severe, though, and playback wasn't entirely seamless.
Then I switched back to the PDX (Duelund output caps but cheap tubes) and 16/44.1, and I'm sorry to say it was game over for the Playback Designs within a few seconds. Depth, texture, detail, colour and slam. Like when photographs get digitally enhanced by somebody who knows what they're doing without going over the top. More accurate? Who knows, but on the incredibly un-coloured speakers and amps these DACs were partnered with, the result was far more pleasing with the PDX.'
The amps were Mac 501's and the speakers were Lenehan ML2's which you probably don't know in the US but they are indeed extremely uncolored with stuff like being lined with steel and using a specially designed stand each of which weigh 53kg - as the same person that wrote the above expressed it 'they sounded like they were bolted to a granite mountain'. I know Doggie likes them because he got a pair.
I do agree in part with what Doggie said regarding valves- but only in part. We heard a NAD 390DD - a direct digital amp - and it was actually fairly close to the PDX and Mac 501's which makes me think more is going on here than valve euphonics.
If you hunt around on the internet you will find all sorts of comparisons with all sorts of outcomes. For example check out:
http://www.computeraudiophile.com/f6-dac-digital-analog-conversion/look-what-wife-bought-me-my-birthday%85-part-2-a-11847/#post154528
The bottom line is before forking out for a DAC in the price range of the PD compare it to as much other stuff in that range as you can get a hold of in your system.
I would also suggest getting your hands on a NAD 390DD and see what you think - it impressed the bejesus out of every that has heard it and IMHO is up there with the PD and MAC501's - in fact some thought it was better.
Thanks
Bill