MSB DAC IV or dCS Paganini

I am very curious about the performance of MSB 4. The upgradeability sure is a big appeal for MSB. I am considering to get at the signature level but with diamond power supply and volume control. And then upgrade to Diamond chips when funds permit. It will be my first foray to high end DAC.
Hope to get more inputs from other MSB users.

I would not recommend the volume control. Although it is pretty good, at that level of performance, a seperate preamplifier sounded better in my system, and actually I felt that the DAC IV without the volume option sounded better compared to the bypass mode.

Really?
I am shocked. A preamplifier would only add distortion I presume in an all digital system. I don't listen to analog sources so I don't really see the point. The passive preamp option seems so high quality.
What do you use as a preamp?

I'm using Octave HP 500SE which is wonderful.

There is no debate !! The MSB gives music with an excellent sound structure. The DCS gives an excellent sound structure without music. You need to go for a complete dCS setup at seventy thousand dollars to get something musical and still it is blown away by a Diamond version of the MSB DAC IV.
Also consider any MSB as upgradable in software and hardware future technologies. The dCS is definitly not upgradable except with some poor software improvements. In terms of positionning in the business, MSB is the future since dCS is the past with no technical improvment since 5 years. dCS is out of the pro business since MSB is entering it. Both are good products of course but the MSB gives such an analogue sound that no other DAC can really compare.