So I read David Mccallum's review and found it informative on the actual functionality and features of the BDA-2. That said, I found the review lacking of any perspective. No real sound description or qualities described. Further, a bit of a comparison to David's reference would have been nice. I also dialoged with David some about this and he is uncomfortable comparing one product to another. I respect that.
However, I have no problem doing so. The BDA-2 is a very neutral DAC. It has a very “distant” space about it, whereas other DAC’s can be upfront, and harsh. I personally found the BDA-2 more smooth and clean sounding than the Wyred4Sound DAC2. The BDA-2 has a tendency to separate instruments, both the digital and analog kind, in a way that allowed you to recognize what went into a song. The DAC2 on the other hand, smears it all together. This smearing, tends to be a trait that one can use to easily discern one DAC's performance from the next. The better the DAC, the better it takes each instrument (and sound) and gives it its own space and clarity. What I found at the next level of performance between DAC's is that this space must also be presented in a way that creates an image (stage) that is realistic. Without the right presence, the whole sound-stage falls apart and the dimensionality is lost.
I was so impressed with the BDA-2 that went and compared it to the DCS Debussy (and my wallet wishes I hadn't). I only found one case where the BDA-2 had qualities that made it preferable to the Debussy. Daft Punk's "Instant Crush" in 24/96 has a more natural sound to it over the BDA-2. Sound was more organic and laid back. For nearly everything else, the Debussy pealed back a layer of clarity that made music sound crystal clear when compared to the BDA-2. The Debussy is more accurate in throwing an image in "3d space". For example, the track "Lush Life" from John Coltrane and Johnny Hartman in hirez amazes when played back over the Debussy. When Hartman is done with his intro and the brushes are slowly stirred over the drums at about a minute and a half into the track -- you know exactly where it's taking place in the stage that is presented to you (the right side just above and behind Hartman). The BDA-2 however, has a tendency to smear this in with the piano and Hartman's voice. The origin of the brushes appears to be from the right for sure, but that's about all you can discern. The BDA-2 does a better job than the W4S DAC2 presenting this stage however the Debussy has a dimensionality significantly better. It's not a problem if you've never heard it over the Debussy. But once you have, you just can't forget how it sounds.
For those folks that don't want to spend the extra $9K for the Debussy, the BDA-2 is a smart, savvy choice. It represents the demarcation point of bang for the buck. You must pay significantly more to get better. For $1500 more than the W4S DAC2, you get more than twice the performance; it's more like 4 times. But at some point in the audiophile market, you must pay 4 times to get twice as good, which is represented by the jump to the Debussy.