I picked up a Vision DAC about two weeks ago - perfectly happy with my previous Ultra DAC, but the upgrade bug always strikes hard in the cold MN winters.
I'm extremely impressed and happy with the Vision - the Ultra DAC was no slouch, and certainly one of the finer DACs available, but the Vision a step forward. In audiophile terms, the Vision provides a wider, deeper, and higher soundstage, and blacker blacks with a bit more detail in the silent passages. Notes just seem to bloom and sustain significantly longer. Instruments appear with the right perspective - depth, bite, volume and space. Vocals are focused, detailed and smooth. Tonality is correct.
In laymans' terms, the Vision takes one leap forward to live music. It's as though one was listening to an acoustic or locally amplified combo in a large gymnasium from afar and walking closer and closer to the the musicians. As one walked closer the music becomes cleaner and more distinct as the room interferences lessen and individual instruments present themselves. The Ultra put one maybe five yards away, the Vision right on stage, front & center - rubbing elbows with the talent - hearing every musical nuance.
If you are into Leonard Cohen, pick up the recent Live in London (2008) 2 disc set - you will be tranformed to the stage!
I can't imagine reproduced music - analog or digital - getting any better - kudos Frank & team!!