The MENSA upgrade is a work in progress.
Jay has a prototype to evaluate when he returns to HK next week.
Pricing will have to wait until late January, if then 
I have no idea how Wayne manages to find the time for R&D, but he does a lot of it -- witness all the new cable products of his own design that he is coming out with, and the continual improvement to his mods to the DI/O. Participating in DAM shootout after shootout is part of this R&D process, and each is very time consuming.
He also listens to feedback from his customers. My wishlist for taking the smART to the next level was a bit more midrange and treble smoothness. Wayne has made a lot of changes to the MENSA (believe me, its not just a matter of changing 1-2 parts). I will take a long listen to the MENSA (now with a bybee'd power supply) as soon as I get back to Hong Kong.
Rob,
I really liked the MENSA name too! Truth tell, I had a good laugh as I found it quite witty. If Wayne can come up with further improvements, maybe EINSTEIN would be appropriate.
thetruth,
I will admit that I do not have an ultra high-end system. But I think that some people on AC have some very musical and revealing systems. I also would not be too quick to put down VMPS - the regular RM40 did win best at CES last year.
While I can't validate whether the smART will sound bloated on a "true" high end system, I can say that the smART has significantly tighter and deeper bass than my Cary 303/100, a $3k list cdp which has been praised for having excellent bass in professional reviews.
As for the silk purse out of a sow's ear point, I agree up to a point. Past experiments upgrading the parts quality of the $495/pair nOrh Le Amp monoblock amps convinced many that the more expensive Odyssey Stratos was still a better amp.
At the same time, I
refuse to equate price with quality. Remember that national/international advertising, event marketing, and multi-layer brick & mortar distribution don't do a thing for quality (they are only about building awareness and getting the product to the end customer) -- but are VERY expensive; we've seen reports of a 6x markup on typical components in order to determine their retail price. These expensive activities are
clearly not a substitute for passion for audio, diligence, technical ability, and a good ear.
I understand that people like Stan Warren have found many design flaws in expensive commercially available audio equipment. Given that you say that you have been in audio for years and have significant design experience under your belt, we would really appreciate your insights on what constitutes good design (lots of things to talk abou there) and on which components you particularly like.