Steve,
IMO, yes. Implementation is everything.
While I cannot agree more with you, sometimes implementations are not correct by initial design concept. I personally cannot approve the use of any Op Amps on the signal path. Yes you are using Op Amps for I/V conversion, but the Berkeley example has them all the way, from DAC chip to output.
Further more, claiming that S/PDIF is best as well as DSD to PCM conversion (even done by a computer) is way out of line, at least in my experience.
There are many recording engineers who will confirm that DSD even converted to DXD at 352.8kHz/24bit is inferior to pure DSD, not to talk about 176.4kHz/24bit conversion that really truncates DSD.
Another point will be their claim that 99% of the current production D/A converters are using multi-bit configurations inevitably is a false statement. There are many DACs built around Burr-Brown/TI devices that feature 4 sets of FIR filters for the purest DSD to Analog conversion possible.
Lastly, it is always strange to me that, most audiophiles are professionals in certain field, but they never fail to give "expert opinions" for audio. Just amazing! :-)
Best wishes,
Alex Peychev
APL Hi-Fi