I've had an MSB Analog DAC for about 8 or 9 years - it's a ladder DAC with a volume control, and it's excellent and has never had a problem - I was running it directly into my MSB Power Amp, and that sounded good, but when I put a Herron Audio line preamp between them, WOW, what an improvement! Currently I'm using the MSB DAC in my headphone system, and I've got a Holo May DAC for the 2-channel...
Vince Gallo at MSB will be happy to talk to you about any and all things MSB!