I own the DAC 200 and the matching AMP 200, purchased from @blisshifi. I agree with @blisshifi's assessment, it's a fantastic dac in it's own right and handles preamp functions extremely well. Deep, wide, holographic soundstage and excellent instrument separation. It has a ton of configurable options and a headphone input. For someone looking for a minimalist high end system, the T+A 200 series is hard to beat.
I downsized from an Allnic L-1500 pre, ARC REF150, and Exogal comet dac to the dac/amp 200 combo and did not take a step back at all sound wise. In fact it's flat out better in most respects, and I would attribute most of that to the DAC 200. I do miss some of the tube magic of the previous system, but do not miss the heat, biasing, and replacement costs associated with tube equipment. Plus I don't have to worry about leaving the system running all day long working form home.