@itsjustme,
Some DAC designers prefer the sound and simplicity of a passive resistor and want to avoid the use of OP-amps due to what they consider to introduce sonic degrading NFB. I do recognize that another approach is active I/V conversion via a discrete circuit again avoiding OP-amps.
I know that Audio Note utilizes transformers for I/V conversion duty. Given their reputation for very good sounding DACs I have to assume that the chosen transformers are of excellent quality.
Charles
Some DAC designers prefer the sound and simplicity of a passive resistor and want to avoid the use of OP-amps due to what they consider to introduce sonic degrading NFB. I do recognize that another approach is active I/V conversion via a discrete circuit again avoiding OP-amps.
I know that Audio Note utilizes transformers for I/V conversion duty. Given their reputation for very good sounding DACs I have to assume that the chosen transformers are of excellent quality.
Charles

