After many days of listening, I want to update my earlier remarks on sound quality. I had said in my initial post, that after burn in Boss DAC sounds better than the Arcam.
After extended listening to different types of music, I now perceive that sound from the Arcam iRDAC has a well-rounded personality. The instruments sound more oringinal, bass is higher, and vocals are deeper, than Boss DAC.
There is no doubt that the RPi+Boss is a fantastic combination at it's cost. The difference in sound is very little, and perceivable in blind A-B comparison on the same song. Other features like access through internet, configurable oversampling, touch screen access etc are unmatched.