The Art DI/O is a 2 channel dac and will only work as such. An unmodified DI/O can be used two different ways:
1. If your dvd player has a coaxial digital output and can output pcm digital you can run the digital output into the digital input of the DI/O. or
2. You can run the 2 channel analog outputs of your dvd player into the analog inputs of the DI/O and convert to digital. You would then need to run a short digital cable between the digital outputs and inputs of the DI/O and convert back to analog at 24/96. Running it this way will enable you to use the vacuum tube "warmth" feature.
The DI/O is a quirky product in that it requires special connectors or cables for its analog connections and it outputs 7v which may overload your receiver or preamp. It was designed for the pro audio market, which is probably why it is so cheap. I have not heard a modified DI/O but in its stock form it has a warmish, full sound, unusual for a budget digital product, which probably explains why it is so popular. It doesn't image very well-sounds kind of spacious and phasey with nothing in focus, but your mmvh. To learn more about it, I suggest you go to harmonicdiscord.com and audiosyslum.com and search around. The only modifier I know of is Bolder Cables and the only way to find out about the mods is at harmonicdiscord. If you're looking for an "entry level" dac, I don't think you can do much better if you can pick up a DI/O at its street price of about $130.