Just received my new Directstream Memory Player today and hooked it up to my Directsteam DAC via i2s without a problem. My issue is if I power off and insert the included SD card and power back on the unit gets stuck on initializing (waited ten minutes). I powered off, unplugged the unit for a couple of minutes and repeated the above only to have the same problem. I reformatted the card on my Mac using FAT - MSDOS (not exFAT) and I still have the same problem.
By the way, I’m very happy with my purchase and love the sound! Thanks Paul and all the PS Audio staff for a great product!