In my system and for my own personal requirements (see below), Synchro-mesh makes a world of difference. I went through the break-in of synchro-mesh (2-3 days) with my electrocompaniet ecd-1 dac and the experience can be described as going through winter, spring to summer. And this is with one cheapo optical to SM and from there I use AQ entry level cinnamon optical to dac. (I've also ordered Grover Huffman digital RCA to replace AQ optical but still waiting for it to arrive) Steve from Empirical Audio, the designer of SM, also mentioned it's best used with glass optical but due to its fragile nature, I decided to go with digital RCA.
AppleTV is my choice of transport due to 1/superb interface 2/iTunes Match streaming 3/my favorite type of music doesn't have a lot of high-res offering (EDM) although I enjoy diana krall, norah jones type every now and then. If you have less jittery source than AppleTV, the improvement could be YMMV. I also read in 6moon review of SM that it doesn't improve much for PS Audio PWD II that has very good de-jittering circuit.
One thing I just confirmed with Steve is that, with the current configuration in my system with Octave, I'd get 24/96 (hardware upsampling with latest TI chip from SM) going to my Pass pre, which I think is good enough for me.
AppleTV (16/48) --> SM (24/96) --> Octave (24/96)