I have done a direct comparison with a DAC1 and a Grace 901. (the 901 was the pre-curser to the m902. the m902 has basically the same analog circuitry as the 901, and the DAC has been improved). The other gear used in the comparison was a Denon 2200 player, using the S/PDIF outs. then to a BAT vk60 amp with Von Schweikert VR4 speakers.
I prefered the Grace over the benchmark. both were very detailed, the DAC1 had a bit of a "sizzle" (for lack of a better term) in the high end. The grace unit was smoother and had a noticeably deeper low end. In deciding to stick with the Grace, I don't feel that I've lost any detail or transparency, but rather, similar detail as the benchmark, with better bass extension.
I prefered the Grace over the benchmark. both were very detailed, the DAC1 had a bit of a "sizzle" (for lack of a better term) in the high end. The grace unit was smoother and had a noticeably deeper low end. In deciding to stick with the Grace, I don't feel that I've lost any detail or transparency, but rather, similar detail as the benchmark, with better bass extension.