*Any* existing 24 bit DAC (theoretically 144db dynamic range) in existence (with (x1) company exception) has 'internal noise' that limits it to no better than about 120db dynamic range due to the noise floor.
If you look at the 'Bob Katz' review measurement comparison (between this 'Standard DAC' and the D-1) look at his figures 6 <-> 9 and read the text in that area, you will see that it has specs (min >150db, closer to +160db) that are many times better than any existing DAC.
I do not know what his 'standard DAC reference' is either...
The argument now could be made that since the best recorded dynamic range (theoretically 144db @24 bit) that has been recorded in the past (and now), why in the world would you want to spend the extra $$ for +150db dynamic range?

