Just improving the Toslink from the Mac will reduce jitter a little, but it does not change the clock inside the MAc, which is the true source of the jitter.
If you go USB to S/PDIF, there are three advantages:
1) Eliminate the Toslink optical conversions as a source of jitter
2) Establish a new low-jitter clock to replace the one in the Mac
3) Output from S/PDIF coax to the DAC, whic has the opportunity to have lower jitter than the Toslink (depending on implementation)
BTW, this can still give you galvanic isolation (just like the optical) providing the converter is properly transfomer coupled.
Steve N.
Empirical Audio
If you go USB to S/PDIF, there are three advantages:
1) Eliminate the Toslink optical conversions as a source of jitter
2) Establish a new low-jitter clock to replace the one in the Mac
3) Output from S/PDIF coax to the DAC, whic has the opportunity to have lower jitter than the Toslink (depending on implementation)
BTW, this can still give you galvanic isolation (just like the optical) providing the converter is properly transfomer coupled.
Steve N.
Empirical Audio