Bif - the PCM1792 is not a new chip. There are newer BB chips that are better, more detailed with lower noise.
Stereo5 - the PCM1704 is a very musical chip, however the detail will always be less and the noise higher than newer technologies. However, I would not recommend to replace it with a player with AKM chips. These sound very unnatural to me. Probably due to the switched capacitor techniques. The AD and BB chips are better. Some like the Wolfson, but I am not familiar with that sound. The Sabre chips can be good, but only if used direct with I2S. If you like the 1704 like I do, then I would highly recommend getting a source with lower jitter to give more detail. 50% of your detail is being lost now because of jitter and the other 50% because of the D/A chip. A reclocker like the Synchro-Mesh can deliver this.
Steve N.
Empirical Audio