venkat, my take is that it is a true Pro Audio Dac.
i personally found it lacks the Lushness with voices that makes vocals apealing but does everything else right (i wonder how it would sound with an SET) ...most reviews call it thin and neutral. I suppose thay all mean the same thing !
I would consider this is somewhat of a oxymoron. On the one side, as audiophiles, we are unhappy with any change to sound signature. We expect the equipment to be completely transparent and not add any of it's own signature to the signal. On the other hand we do not like a DAC that has been proven to be completely transparent. The DAC1 and its siblings have been tested to pass the signal without any change in sound signature, so if there is an issue it will most probably be somewhere else.
When I heard the DAC1 at Audire, as I said before, I was blown away by its openness and clarity. At the same instant, Sharath brushed it off saying he has heard better DACs.
Hmmmm, we will always be subjective to our own subjectiveness. !!
Cheers