This ad is quoted entirely from Doug S. (hope you don't mind buddy!!), as I honestly don't know much about this piece, I just bought it used from him and plugged it in and played it. See the original link with photos here:
http://www.audiocircle.com/index.php?topic=49382.0the stickers are now missing from the top, and I'm asking $175 shipped or best offer.
"this is an excellent piece - you can put it up against the much pricier spreads & it won't come up short. this was modded by a hobbyist w/typical upgrades, per craig frasier's diofacts:
http://home.ca.inter.net/~cfraser/DIOFAQ.htmplease don't ask me specifics re: what exact mods were done - i dunno, as this was modded by someone else. but, i can assure you it's as good as the one i modded myself, w/all the goodies. (can't tell 'em apart, really...) its power supply, actually, is better - a custom job, where mine is an upgraded wall-wart.
so if you want a killer dac, still competitive w/current offerings (at least as good as the benchmark dac, for example), yust send $275 this way, & it's yours!"