Anything that uses S/PDIF will not perform as well as asynchronous USB. With S/PDIF the target end still has to recover the clocking from the data stream. Cabling and termination on the target end will still come into play regardless of how good the clocking is on the source end.
Asynchronous USB DACs aren't cheap, so I can see interest in other solutions.
Asynchronous USB DACs aren't cheap, so I can see interest in other solutions.