This has been launched in Europe not sure if its available in the US yet though. waiting for dealers to get stock and a listen
Understand the retail price will be Euro 900

A true high-end device, designed to extract the best possible sound quality from computer based audio systems, cleverly combined with a ground-breaking headphone amplifier. Please meet the Pioneer U-05...
 

U-05-S

The all-new Pioneer U-05, which weighs a hefty 6.3 kilograms and is built in solid aluminium, is a no-compromise USB-DAC that is able to play regular PCM signals with a resolution up to 32 bits/384 kHz. It also handles 2.8 MHz and 5.6 MHz DSD-files. The dual Sabre 8-channel DAC is configured for left/right parallel use, while a high precision master clock circuit makes sure jitter and noise have no chance to distort the signal.

Furthermore, the Hi-Bit 32 function is able to requantize incoming 16 and 24 bits signals to 32 bits quality, while the upsampling function allows raising the sampling frequency up to 384 kHz. The U-05 even allows narrowing the DAC locking range at will. This way, collateral sounds and disturbing overtones can be reduced, further raising the quality of the signal.

Filtering
The digital filter section has three user selectable settings for PCM signals and three for DSD type signals. This makes it easy for the user to tune the sound character of the U-05 to his own preferences. There is also a Direct function, which bypasses the DSP section entirely.

Input Section
The new Pioneer U-05 is not just a USB-DAC. It also has two optical (SPDIF) digital inputs, two coaxial (SPDIF) digital inputs and even an XLR (AES/EBU) input. This way, several digital sources can be connected to the U-05, such as CD players or network audio players. All of these inputs accept PCM signals up to 24 bits/192 kHz. The USB-input handles signals up to 32 bits/384 kHz and is also compatible with 2.8/5.6 MHz DSD-files.

 

U-05-S

Headphone Amplifier
The amplifier section is fully balanced and uses a shielded power transformer with anti-vibration structure, making sure the audio quality is top notch. The XLR-terminals on the front – a set of 3-pin terminals and a single 4-pin terminal – make sure that every headphone, regardless of the architecture and the wiring, can be connected. A full size jack terminal is available as well.

The gain selector (low/high) on the front panel makes sure that almost any headphone system on the market, with a resistance ranging from 16 to 600 Ohms, can be smoothly driven by the U-05. The amplifier delivers 2 x 180mW (32Ω), over the jack port, and even 2 x 300mW (32Ω) when the XLR ports are used. In order to set the volume precisely as needed, the U-05 is equipped with a Fine Adjust rotary knob, which sits next to the regular volume dial. The Fine Adjust setting is also available on the remote.

Pre-amplifier
The U-05 can also be deployed as a traditional, high-end pre-amplifier with volume control, using the balanced XLR-outputs or the unbalanced cinch outputs. An easy-to-use infrared remote control is included.