Hey Jon, seems like a simple solution but why not go for the V3 instead? It has AES, Coax, and can be modded by Grace to output Optical. They cannabilize the Word Clock port to make this happen. I know Skalinder ran that very setup for a while back in 2004-5, so he could relate his experiences with ease of use, jitter, etc...
I'm thinking hard about selling my V3 (any offers?)
I just bought another pair of Schoeps 64's from a friend for a sweetheart deal, so thinking about switching to the Edirol R4 and using all four Schoeps channels that way when setting up the mics.
CCM5's in spaced omni and MK4's in XY or ORTF. That's what I'm talking about.
I would also be curious to hear Skalinder's reports comparing the V3 to the R4