PS Audio recently released (March 2014) a new DAC to replace their already top-notch, high-end PerfectWave DAC (PWD), which I reviewed about a year ago, with a follow up review using it with the PerfectWave Bridge which enables using an ethernet cable to stream the digital files from computer to DAC instead of USB. The PWD, using ethernet, has become my reference DAC ever since. So, when I heard about this new one, I licked my chops at a chance to try it out on my system and review it.