The Modwright TP is as good as any of Dan's previous work, likely better. It outdoes my Modwright 3910, which I assumed would be a tough act. Some of the improvements also have to do with inherentHD playback benefits, IMO.
Ask Dan

The 24/96 DAC in the TP (now a nice tube DAC) is two-channel PCM only. It is a glorious sounding DAC. I send hirez DVD-Audio 2 channel via Oppo's coax (didn't think i could do that due to MLP proprietary issues, but sure enough it allows up to 24/192 sent out digital coax/toslink, not some dumb downmix). You couldn't send lossy Dolby Digital AC-3 there, and of course TrueHD or DTS HD Master Audio is encoded and unavailable. Uncompressed PCM is a candidate, but only the front two channels.
Net/net, this is a stereo DAC.