Been listening to a Transporter XLR into ARC 100.2 into Dynaudio S3.4s's. About as detailed, transparent, and pure as I've ever heard. I have noticed though, that a very good preamp, like a Pass X2.5 or X1, or a tube job like an LS25 does a better job at detail retreival when listening at night time (when the kids are asleep). Perhaps a smidge sweeter (rolled off is not exactly what it is, something else) too with the LS25. Other than that it's hard to tell if I am imagining things or if there really is a difference. It will be a sad day when I have to give the transporter back to my buddy! At one point I was running a Bel Canto Dac3 direct into my Pass x250.5--same speakers; I would say that this combo had the most sheer detail and accuracy, but i'm getting a more tube like (by that I mean sense of open midband with no SS chalkiness) sound that I like better with the ARC 100.2/Transporter combo. Of course not really fair since digi sources are different...and I moved (but I can still guess from memory)!
Anyway unless the manufacturer has implemented a stellar line section in the DAC, a very good preamp will usually sound better; this has been my experience--ymmv
