Kijanki is on the right track here according to me. A native 24/192 file is quite different sonically from an upsampled 16/44.1 --> 24/192 file. This is because the upsampled file is smoothed out by the digital filter in the DAC once the upsampling process from 16/44.1 is completed. This smoothing filter in the DAC is an algorithm that Musical Fidelity thinks is the correct one. If you get a Wadia DAC then Wadia will have its own algorithm & if you get a 3rd manuf, say, Meridian then Meridian will have its own algorithm in that digital filter. It will vary by manuf & it will hard to say whose spin on the digital filter is "correct" - each will have its pros & cons.
So, basically, what you are telling us is that you prefer the native 24/192 to the digital filter in your Musical Fidelity. It's entirely possible that the more money you spend on an upsampling DAC the probability could be high that you prefer their digital filter to the native 24/192 sonics???
So, basically, what you are telling us is that you prefer the native 24/192 to the digital filter in your Musical Fidelity. It's entirely possible that the more money you spend on an upsampling DAC the probability could be high that you prefer their digital filter to the native 24/192 sonics???