For the money its got to be as good as it gets. Most of what I have tried in this price range use ic in the signal path...the PS audio does not use op amps at all.
I use an all tube preamp, a tube amp, and the ps audio dac. Absolutely no ic in any of the circuits! The sound is open, organic, warm, and dynamic. If you have a truely high end system set up properly you will hear the difference between this dac and its competition. Best in class.