I've been wanting to get into PC-based audio for years now but no products met my requirements until the Pace-Car with both SPDIF and I2S came out.
I had a few aborted attempts. My last one was about a year ago when I tried a stock Squeezebox with an Elpac Bolder modified power supply. I thought the Squeezebox sounded pretty crappy as a transport. Miranda didn't like it either. So it got returned in the 30-day trial window.
I never tried a modified Squeezebox. I looked into it, but frankly after looking at the technology, it seemed like putting "lipstick on a pig". But apart from the jitter and noise, I liked the feature set of the Squeezebox a lot.
One of my requirements is a wired Ethernet connection from a music server in another room. I definitely did not want USB, for various reasons.
Another requirement was an SPDIF connection for now, and I2S for later. Other things I wanted: very low jitter, galvanic isolation, upgradeable to higher bit rate formats, and definitely designed by someone who knew what they were doing, since this kind of digital design is not trivial.
So when Steve announced the Pace-Car with SPDIF and I2S, I went for it. I got the version with a SuperClock4 for 44.1 khz. Whatever I ended up with had to work with higher rates eventually though. The Pace-Car can be upgraded later, so that worked for me. I was an early adopter of SACD -- I got an SCD-777ES as soon as it came out, so I am familiar with high-rez and like it. But I also have a shelf of unused SACDs without a player anymore to play them. This time I'll be patient and wait for a critical mass of software before I jump in again. By the way, I thought my Kern modified SCD-777ES was a pretty good transport. But my Pace-Car sounds better.
My DAC is the Lite DAC50, with a few mods I made. It's digital input isn't perfect by a long shot and in some sense it is kind of a shame that a good amount of jitter that Steve removes is put back in during the SPDIF clock recovery process in the CS8414 chip. But I'm happy, even for SPDIF it's a great transport.
Later this year I'll play around with DIY DACs using I2S in. Oris, I gotta think the I2S mod to your Benchmark would be quite worthwhile, but that is just an educated guess. SPDIF is just not an optimum way of sending audio data around.