Universal Players that do not convert DSD to PCM?

Why do you care? High Res PCM is as good (some say better) than DSD. Also most mixing consoles are PCM, and Sony's design for DSD recognizes this fact of life and makes conversion easy. Listen to the equipment, not to Sony's hype.

One can read the manufacturer's description. I know the Denon 2900 does not convert DSD to PCM.
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I think DSD is only converted to PCM if bass management and speaker distance is used. And only in some machines. Two channel is not converted to PCM. That is my understanding, someone correct me if I am worng.

I think the Marantz DV8300 and up, does no such thing. Convert, that is.

But, if you really wanna get a pure answer - email the manufacturer or email the construction designer of a product you fancy. They are mostly happy to talk about, and help solving this kind of problems. And they will know, not guess.

Regards

Unfortunately, emailing the manufacturer does not always give you the correct info.

I emailed Integra with this very question about their DPS 10.5. Their response was that no DSD->PCM conversion occurs. Yet, when investigated further, I learned that the Wolfson DAC used in the DPS 10.5 (or any other DAC Wolfson makes for that matter) is not capable of processing DSD natively (that is...without converting to PCM first).

Again though...jury is out as to if it really makes a difference. Trust your ears...you'll be happier that way.