You're welcome, Marakanetz!
What would I benefit if I convert originally WAV source or any PCM to DSD? Please share
The benefit would be that, by converting PCM to DSD in the PC, you will eliminate the PCM part of your DAC. Bypassing the I2S PCM interface, Digital Filters, etc. may result in better overall audio quality. But then again, it really depends on how the DSD is processed by your DAC. Most of the DACs process the DSD through the DSM (just like it is done with PCM), so you don't get a "pure DSD processing" anyway.
Bottom line, try converting to DSD on-the-fly with the ASIOProxyInstall and see what happens. I personally prefer the "SDM Type C" setting and DSD128 mode.
Also, try the JRiver MC18 PCM-to-DSD converter as well. It is also very good, but I am waiting for their PCM-to-DSD real-time converter that they will introduce as an option sometimes in the future.
Last but not least, I'd highly recommend JPLAY 5.1 and Windows 8 (64 bit).
Good luck!
Alex Peychev