Yeah, it is still powered by a single +5V supply. Even you use a low noise iFi power supply via the another microUSB. What happens inside the DAC is it takes the single +5V and goes to a boost voltage and split switching power supplies. You can’t get absolute low noise performance out from this type of design. This is a inherent design for a single powered supply DAC (If you open up the DAC you can easily spot a couple of switching power supply with inductors and filtering capacitors).
Cheers Slim! Yep Westlake’s answer is what I guessed, but it’s nice to have it from the Guru himself.
I’m liking this more and more, thinking of getting one for the old man to replace his iFi iDAC2. But the iFi is so nice and no doubt next year there will be an iDAC3.
So many good and affordable options popping up!
A Pro-Ject S2 DAC with an iFi iPower is a little over $400, I think you will have a hard time to find something that sounds better for that price. And when you add a digital volume control (including USB volume), DSD, a nice little color display and full MQA decoding you get a nice little package.
I think the closest on market now is either the Mojo or Bimbo (Schiit Bitfrost Multibit), not sure if they sound worse or better, but they are a little more costly and lack many of the technical and practical features that the S2 does.
Is it a giant killer? No, probably not, a new high-end DAC will sound better, but for its price is a very nice DAC?
Rhetorical question.
How do the majority of audiophiles get this idea, that great sound it’s got something to do with the VERY BIG price?
By the way, try to do the experiment. In a great sounding concert hall tilt slightly your earlobes with your fingers - and you will hear big difference, but yet costs nothing…
And it ought to really make you wonder…
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Money is relative and you can find decent DACs for less than 50 dollars. As I mentioned, I use a Chromecast around the house and some would laugh at the idea of spending 400 $ on a DAC.
I never said that very big sound equals very big price, and do not appreciate the insinuation.
Most of you have spend much more than that on your systems, so I think the money argument can be put to rest.
Rene, your speakers cost 20.000 $, so I think you can understand my point?
That being said, I do think DACs are worth investing in and that they make a difference. Mine cost 1300 euros, to be completely transparent, and I like what it does in my system. I have had numerous DACs before, and I have not found one that offers for a reasonable budget similar qualities.
I do not care about having a Swiss at knife with many features and have no high resolution files. So I was just interested in having some feedback on the purely audio qualitues of this DAC, and whether it cost 10$ or 1000$ I would not care less.
hi Stephane_L, curious - which DAC do you enjoy ?
Mosaic UV DAC.
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That’s a bit rich: current new price of (about) the version I have is €10K, but that’s including 2 DACs and 2 amps – per speaker. 
They max out at 96/24, but strangely the feeling of missing out on anything never pops up… 
OK, same difference!
Not quite: that €10K basically is my entire setup: speakers, dac, pre-amp and amp integrated in the speaker cabinets, wrapped in DSP. Meridian DSP speakers are special little birdies – for me, it’s home. They are ~10 years old, but f they were to fail on me, I’d replace them with the exact same setup.
With anything stereo, it’s all about your three speakers: left, right and room. Choose the first two wisely and to taste, treat the latter with care (room treatment and/or correction) and anything else is of little significance.
Back to the subject at hand: I pondered buying the Pre Box S2 for my headphone zone for a while, but I do not care for ultrahigh bitrates or DSD, don’t need a slew of inputs, could care less for a screen – and I’m not fond of teething problems either. In the end, I picked up an Explorer 2 for €100, hooked it up to a €40 Cubox and have been smiling ever since.
So no – it’s not about the money or the new and shiny, but all about (personal) choice. Which you have been saying all along.
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Agreed… Always eager to know what people like and why.
Enjoy.
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Got native DSD 512 to run now as well, using the ASIO drivers on Windows 10. In fact, every single issue mentioned by me has now been fixed (bitrate switch clicks, DSD channel swap, MQA dropouts, USB volume, 32 bit sound, improved Roon support, etc). @brian might be interested in this!
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That’s great to hear. Thanks for the update!
Despite is size, the little Project DAC has multistage PSU circuits resulting in very good noise floor:-
The DAC PSU noise floor is around -160dB Ref 3.3V
Earth leakage currents from the USB and switching PSU will make there way into the Audio system Ground, so a decent “floating” linear PSU for the DAC brings big benefits.
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Myself and Hans B. like iFi’s iPower.
What do you think of the device, please?
BTW - In spite of our last conversation, Amerika is awash in S2s.
My Mother always said to me “if you have nothing nice to say - then keep quite”.
The iFi iPower is a switching PSU - and in almost all case’s a capacitor is connected across the Mains and output side to help ease Common mode EMC compliance. Its this Capacitor that causes the large Earth leakage currents typical of switching supplys.
iFi marketing “bump” is all about its low noise performance, totally blindsides the real issue of switching supply which is there Earth Leakage current.
I’ve not tested a iFi Power - so I cannot confirm wither or not they have a well engineered solution WRT Earth Leakage - but I get very suspicious when I read “American levels” of marketing bull…
But one thing is for sure, I’d never use an unsynchronized switching supply in my HiFi system.
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John Swenson (Uptone REGEN, microRendu etc) has said on CA Forum that the iFi iPower he has the highest leakage current of the SMPS’s he’s tested.
He recommends the same as you - linear PSU’s for their (typically, not always) lower leakage current.
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Well that says it all really, and only goes to confirm my suspicions.
If the designers understood what was important (low leakage current) they would rightly make a big splash about in the marketing - but is conspicuous by its absence!
There is ZERO point in having a low noise output PSU when its has and I quote “iFi iPower has the highest leakage current of the SMPS’s he’s tested.”
From the Guru himself below. He’s mentioned it on many threads before but this is the only one I could find quickly from my phone. And no, I don’t have a LUSH USB cable.