Nice to see some feedback on this DAC, should I need one it'll be on my radar.
Parasound Z DAC
Just picked one up and I'm loving it! It sounds freakin great for the money. I'm using the balanced outputs. It sounds far better than the v-dac Mk 2 with Pangea power supply, which in it's own right sounded great. Two thumbs way up. If you are in the market for a $500 or less dac, give the z dac a look.