You can read the Modding the DirectStream DAC - #161 by yuriy thread to get an idea of some of the added performance of the DS Mk II. It will probably have the XS4400 and will certainly have a better power supply. The newer FPGA will allow better processing and more innovation in the upsampling and the sigma delta modulator.
You might also want to read the Wishes Upcoming PSA DirectStream MKII thread.
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