I have a Monarchy DIP (but not 24/96 upsampler) that I use between my Apple TV and the Dac Magic to play wav files from my computer. Toslink into DIP and Spdif into Dac. The Dac Magic is great but the DIP makes a noticeable improvement. I believe it's supposed to be due to jitter reduction accomplished by the DIP but I don't know if that's really the reason. I would call it more dynamic or lifelike for what that's worth.
Monarchy 24/96 DIP and DacMagic?
(copy of earlier post by smholl): Does anyone have any experience or opinions as to using a Monarchy 24/96 Upsampler to the Cambridge DacMagic? Since the DacMagic will take up to 24/96 and upsample to 24/192 why not feed it the highest sampling rate possible? Or does it really matter to the DacMagic what it is being fed, since everything is upsampled to 24/192 anyway?