I think the confusion over just what the Pannie is or has/doesn't have is that it's so unconventional.
It's an amplifer, but there's not really any amps in the thing.
It's a DAC, but there's not really any DACs in the thing.
As Wanye's link basically states by Tex. In. themselves.... this is a true 'digital amp', OR... it can be viewed as a 'power DAC'.
Obviously, like Zybar says, there IS a D/A conversion 'cuz the signal comes in digtial and goes out analog.
Personally I prefer the term 'powerDAC' 'cuz it sets itself apart from both amps and DACs as we know them.
'A DAC with amp-level output.'
No?
