Did you know John Marks reviewed it in the July 2003 Stereophile??
From the article, "The Benchmark DAC1 is, in my experience, the lowest-priced piece of digital gear that can give sonic performance that is not just improved mid-fi, but genuinely high-end."
BTW, the Benchmark "review" isn't really extensive--it's part of Marks' column that discusses Johathan Swift, budget vs. SOTA gear, used digital, Benchmark and Teac's mega$$ transport/DAC. It's enough to pique one's interest but maybe not enough to base a purchase on.