Hi Wayne,It's a small single tube DAC. You can take the digital signal from any crappy sounding cd player and just use it as a transport. Then the DAC sends analogue signal into your preamp. I've heard better transports and dac before but the increase in performance was small and they cost literally thousand's. The DI/O is around a hundred bucks.
Anyway the problem if it has one is that it's suited for balanced line and the signal is pretty hot. I'm more than happy to take it apart and replace some parts. I'm just not the guy to re-engineer the thing! Pick one up, they're cheap, you'll love it.
Bill