I bought this DAC after I heard it in a system at a Stereophile show in S.F. As I was walking down the hallway, I thought I was going to find a room where there was a live performance.
I have decided to sell this DAC to downsize my system and use a CD player.
I can't improve on the review that is linked below.
http://www.soundstage.com/rise02.htm
What I will say is that I don't believe that you will find a better DAC at this price. It is about as close to analogue as any DAC I have ever heard. It is neutral but has a warmth that is closer to tubes than solid state.
I have rated it 8/10 due to age. You have to look closely to find any cosmetic imperfection; there is nothing that you would notice otherwise.