Yes it will and how I have been using mine. Don't pay any attention to the guy who thinks any old DVD player and cheap Chinese DAC will do. He's never seen or heard the Jay's much less owned one. The I2S could also sound better depending on the DAC it's connected too.
Jays Transport Cable
Have the newest version of the Jays Transport, using the Rca Cable connection.
Sounds Muted on the highs, The interconnect Is A lowend Silnote.
Will the Xlr connect be a better connection?