But will it work?
As I understand it (misundertand?) there is no PC involved in this setup. This thing needs to be controlled by software. Just attaching an input and expecting results from an output is really over-optimistic.
Yes, this has mic pre-amps, with phantom power, choice of balanced/unbalanced i/o, and a host of fascinating features.
gross underutilisation is a good way of putting it, paying for stuff that isn't needed is another.
I'm a bit surprised there is no coax (or XLR) digital i/o, but indeed, it looks like there isn't. I have nothing at all against optical (but I've never yet used coax) and it even seems that, although glass seems more appealing, there may even be advantages to the plastic fibres for these connectors. Many audiophile buyers are prone to jumping to conclusions about materials.
Gong back to value for money. It would be interesting to know the potential purchase price, but I guess cyber_cat would have told us already if he wanted to. This thing
retails at UK459 (example street price). What would the OP get, pure stand-alone DAC, at that price or, say, 75% of it?
I have no doubts about RME. My RME sound card was one of the hifi revelations of my life: I nearly threw away the CD player! abhijitnath's comments are pertinent, though: this is meant as a studio tool, not as living-room listening, except for the person who wants a flat, uncoloured response. I wouldn't mind one of these on my desk! Except, I hardly do any recording these days, and, big deal breaker, minimal Linux support.
cyber_cat: if you are going to go ahead with this, please check that
it will work at all in in the way you intend to use it. Sure, my worries may be wrong, but it could be an expensive mistake. Check the RME site and maybe email their support.