I have had the pleasure of having the PS Audio Perfect Wave Dac and Perfect Wave Transport in my system for the last 2 weeks. My dealer offered his personal units to me to break-in and evaluate, as he just does not have the time.
I can say without hesitation, that this duo raises the bar on digital playback, beyond what I thought was available at it's price...and this is on red-book only, as I have yet to try the Hi-Rez DVD capabilities.
I first did all my listening with a cheap HDMI cable and was so impressed, I started scrambling to sell off what I could, to raise the funds for these pieces. Then, last week, my dealer loaned me the I2S-12 Silver HDMI that PS Audio makes, and that damn cable took everything up several notches. I did not want to like it, but the difference was not subtle, and of course, as far as I am concerned...a mandatory addition in allowing every last nuance this pair is capable of. They are to be heard and judged at best, as a pair, using the I2S HDMI interface. I used the PWD and my Esoteric DV-50 as a transport and was unable to get the magic that the PWT/PWD with HDMI cable offered.
After I listened and formed my impressions, I started scouring the net to see what other user's impressions were. So far, I have been unable to find any "formal reviews" from audio related publications, but the "everyman user reviews" I have read, seem to share the same impressions:...insert ALL the Audiophool Accolade/Hyperbole here___... except this time, for change...it actually applies!
Oh, and BTW, my dealer IS NOT getting his "loaner" pair back. (I guess there WAS a method behind his madness).
I feel confident once the "experts" log-in, PS Audio will have to scramble to meet the demand.
My dealer was able to get his hands on 2 more pairs; email me if you need his info.