I've not heard it but they are using the chipset from the original THREE that we never launched 2 years ago. His boards look well made and the parts selection is also quite good. There were problems with the 510F and it was discontinued, which is one reason he recommends derating it...
We spent a long time tuning the ONE/TWO so with the same voltage, I'm sure that ours sounds better. However, the higher voltage gives better dynamics - no doubt about that - if the PSU is clean.
If you're willing to build your own case (and accept the home-made look) and lash together your own wiring, power supplies, etc. there's a lot you can do today affordably in the DIY space. It's our job to light the audiophile passion not to tell you where to take it, even if that means going DIY or to a competitor. Enjoy!
Seth
