Just got the Lab12 DAC1 SE installed and have been listening for a few hours... here are some early impressions.
I've had several DACs over the last couple of years - Weiss, Aesthetix, Wyred, Metrum, Theta and most recently, PS Audio (I'm sure that I'm forgetting a few). Of the DACs I've owned previously, I would characterize them as more similar than different, variants of a theme really. Could I identify them in blind A-B testing? Sure, but the differences were not nearly as dramatic as changing speakers or preamp. The Lab 12 has a different sound signature, clearly a different breed from the DACs I've owned previously. It has an amazing combination of speed and detail, something I found with all my previous DACs, but it also has incredible dimensionality and slam. Timbre is spot on, vocals are nicely out in front, has a bit of warmth and sweetness without sounding overly thick or slow. It has much more 'you are there' feeling than my previous DACs... it honestly reminds me of everything I loved about my Atma-Sphere amps (I greatly simplified my system for an overseas assignment and did not bring any tube gear).
Having gone back and reread TeaJay's review, I completely agree with his characterization of the DAC and find it as extraordinary as he does. To say I am impressed with the Lab12 DAC would be an understatement - of all the DACs I've owned, it's absolutely my favorite to date. Of course this means little in anyone else's room, but I'm extremely impressed.
I did make a few changes from stock that should be noted - the stock tube was replaced with a 1950's Siemens 7308, fuse was replaced with one from Synergistic Research and I am using a WireWorld PC. I have no idea how these changes contribute to what I'm hearing, as I never listened to the unit in it's stock configuration.
Like anything in this hobby, YMMV...