DSD via the Lampi is a chipless design. It is my understanding that Lampizator uses filters to handle the DSD signal. It's a very unique design I believe and frankly, comes as close to my R2R masters as anything I've ever heard.
If you don't care about DSD....well, you're definitely missing something, but that's ok too, because the same can be said about not wanting to mess with a Reel-to-Reel setup. R2R care & feeding makes vinyl care and feeding looking like a breeze. If the thought of getting down on your hands and knees with a little cup of rubbing alcohol and a mitt full of Q-tips is not your idea of fun....stick with digital.
If you read my review on the Lampizator posted a year ago (here:
http://www.audioshark.org/lampizator-186/lampizator-big-7-review-7213.html) -- then you will note that even as a PCM lover, you can experience a good percentage of the Lampizator DSD magic by simply upsampling your PCM to DSD. Does it sound better than the new Lampizator R2R PCM? You be the judge.
If you're a PCM only guy and voted for such, well, the Berkeley Alpha Reference DAC is PCM king (and even sounds great with DSD converted to PCM ahead of time)
If you voted for occasionally dabbling in PCM and DSD, and want to keep your digital life simple and amazing sound, the Lumin reigns supreme.
If you're a DSD fan and want to experience digital that's as close to R2R, then the Lampizator DSD is the ticket. Switching back and forth between inputs with volume matched, I mumbled to myself, "holy crap that's close." You know what is telling? The DB level of background tape hiss between my Jacintha Here's To Ben and the DSD version on the Lampi was almost identical.