Assuming fixed DAC/analog components,I’m only aware of 2 parameters that
can affect the sound of a a digital playback system :
a) data accuracy
b) jitter
Since a is not an issue a sanely constructed system, then it must be b:
jitter
This is where Digital meets the realms of the real world – same Bit for
Bit accurate Data but very different sound between Transports and even
Interlink cables: so what??
Lowest Jitter will not always guarantee best audio performance (It very
much depends on what happens down steam at the DAC) – it’s the
distribution (signal content) of the Phase Noise that is critical,
types of Phase Noise that are always  detrimental :-
A. Data correlated artifacts. These are signals or spurie within the
Phase Noise plots that are directly correlated to the “Data processing”

B. Fixed frequency Non Data correlated discrete artifacts, such as
mains hum, non synchronies Front panel displays & MCU’s etc.
It’s generally accepted that the SPDIF standard is poorly conceived as
the Master Clock is located within the CD transport section or in the
PC (where Jitter) is unimportant), where as the DAC which is extremely
Jitter sensitive is fed from a “Recovered” clock which is buried within
the SPDIF Data Stream. To make matters worse, no attempt has been made
to de-correlate or “randomize” the SPDIF Data during transmission, so
that the clock recovered by SPDIF receiver is guaranteed to be heavily
contaminated by Data correlated Phase Noise – Jitter of the very worst
kind. The "evil brother" of SPDIF, AES-EBU, is pretty much the same,
the only difference being that it is balanced 110ohms.
A guaranteed a solution to the deficiencies of SPDIF is to design the
DAC as the “Master” clock device – i.e. a low phase noise clock located
next the to DAC – and send the clock back to the transport via a second
connection – preferably optical for best isolation.  Arcam,  Pink
Triangle, Wadia, EMMLabs use this method. 
As mentioned earlier, nor  transport  neither PC (or squeezebox, for
that matter)is  sensitive to clock jitter, so no particular care need
be taken for this second link. If designed and implemented correctly,
this method guarantees that the DAC operates from the lowest Phase
Noise clock – with no PLL’s in the signal path  or whatsever. In this
scheme of thingsToslink works best as gives galvanic insulation and
protects from other forms of jitter (from RF or PS) to reach the DAC.
So from an audiophile standpont, a squeezebox with world clock
input-and toslink output, would be warmly welcomed, and 24/192
capability would let experiment upsampling algorithms and stay
future-proof.i Of course you should have a DAC with the masterclock
inside, but in that case you'd be very close to perfection.
Cheers, Betto


-- 
betto
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