I've not heard both in the same system before but I had the DAC3.5 which was upgraded to Mk II subsequently.
I always found the PerfectWave MkI more clinical, more neutral and perhaps a tad more detailed. The Bel Cantos always had that slightly warmer and more musical edge to me.
If you've heard the DAC3 in your own system before you should have a good inkling of how the 3.5 and Mk II sounds.
It's a similar house sound but just with lower noise floor esp in Mk II guise and more resolving in complex pieces.
I always found the PerfectWave MkI more clinical, more neutral and perhaps a tad more detailed. The Bel Cantos always had that slightly warmer and more musical edge to me.
If you've heard the DAC3 in your own system before you should have a good inkling of how the 3.5 and Mk II sounds.
It's a similar house sound but just with lower noise floor esp in Mk II guise and more resolving in complex pieces.