After some limited testing I have found that the Wavelink HS is again better than both the AP and JKSPDIF, but I prefer the Weiss over it. Compared to the INT203, the Wavelink is more like the AP -- more direct, very clear, transparent, and resolved -- with more emphasis on leading edge definition than the Weiss. The Weiss has a more relaxed character... but still vivid and exciting somehow. I find it a little more open and bigger and maybe more "natural" than the Wavelink. I do not find the Wavelink hard or fatiguing at all like the AP, however. I like the Wavelink a lot and am using it in my bedroom with the Squeezebox Touch -- a great converter for that purpose as USB support is somewhat limited on the Touch. Both the Wavelink and Weiss are great and I think it's a matter of preference.
Personally I think of the Wavelink HS and INT203/202 as counterparts to the Audiophilleo and JKSPDIF Mk3, respectively, at the next level of performance.