Steve, a few years ago I used a modded Audio Note 2.1 DAC (about 2K I believe), that was bested by the Xtreme Card in a Theta Casablanca III, so a SSP is capable of beating a 1K DAC (the Theta Xtreme DAC card retails for 5K though). The Xtreme card was subsequently left in the dust by the PS audio Perfectwave, which was then trounced by the MKII upgrade. Inshallah I will have a chance to compare the MKII with your overdrive SE sometime this summer.
Kal, the only processors with room correction that I am aware of that has digital outputs would be the Tact TCS MKII, and the Datasat RS20i (currently in Beta version). Theta CBIII HD has digital output (with digi out card) but no room correction yet (Dirac has been announced, but Theta being Theta is and when this will ship is everyone's guess)
Cdj123, the problem with this architecture is that because of HDMI licensing restictions, the digital output has to be downsampled to 48/16 on high rez HDMI sources.