Seems well designed. Uses onboard clocking and acts as a USB master. Filtered power. High quality output transformer.
But costs about as much as DacMagic.
http://www.halidedesign.com/bridge/ (http://www.halidedesign.com/bridge/)
Nothing but success here with the Musiland 01 device. It's about $380 less and you get 24/192 capability, as opposed to just 24/96. This really makes the Fun DAC (~$350) more appealing as it has a USB input as well as a solid headphone amp.
/thinking out loud