I think I already know the answer, but just need to confirm with the experts. My universal disc player will output 2-channel DSD from a SACD over HDMI. Is there no way to get this DSD signal to the DirectStream DAC? Any device (a pre-amp with an HDMI input) that I can put between the DVD player and the DAC?
My assumption is the answer is no, that the only way to get the signal to the DAC is over analog which will be LPCM.
The answer is no as you predicted - and the three main reasons are different protocols with different electrical characteristics (HDMI standard vs. I2s LVDS) and lastly costly decoding license fee on the renderer side. This topic has been discussed herein before, so you may find some details if you use the forum search function.
PSA Audio is working (with Oppo) on a new transport that will play the DSD layer off SACDs to the DS (and only to the DS, due to the licensing restrictions Frode mentioned). There is a thread here: http://www.psaudio.com/forum/pwt-transport-topics/sacd-playback-transport/
How about using the Pink Faun card for I2s output from a PC through HDMI cable to the DS. Any experience that? Better than USB?