Has anyone heard the PS Direct stream mk2?

One thing we know is that it is louder so that HAS to make it sound better, right?

Yep, I have one and am currently enjoying it a lot. I think with the current trade in value, it makes a lot of sense for someone who likes the mk1. If you want to try something entirely different though, there are plenty of other ways to spend your money.

driftingbunnies- your last sentence kind of sums it up- for $8k ish, there are lots of options.  

You don't have to trade your Mk I in before you receive the Mk II.  You have thirty days to send one of them back to either complete or void the trade.  So a chance to compare head to head.  Before you see any independent reviews the trade in offer will be long gone.  There are multiple people on the PS forum who have compared the Mk II to a bone standard Mk I and various modded versions and all claim the Mk II is clearly better than even the "full modded" Mk I.  Several of those are people whose ears I trust and if I needed another DAC wouldn't hesitate to try it as I own a modded Mk I.