I'm building a non oversampling DAC with a 10+ year old Philips chip, designed by someone over on the DIYaudio forum. The parts cost should be around $200, and I have no idea what it will sound like. I bet that in terms of measured performance and probably some aspects of sound quality, it is nowhere near the DAC1 or anything else modern. But it will be fun to try and a lot of people like the sound from this kind of "old style" D/A conversion, similar to the popular Nixon and Dack products but a little more involved.
It might, except everything else about it is better. The whole "old" non oversampling DACs have some following among the originally anti-digital types, maybe they sound softer. At least that's what I'm hoping for...
They have better transient response. I checked it out on my scope once and posted the info on HTT and AA. The thread on AA of course got a little heated, but I think my basic tests were mostly sound.
I could try and dig up the thread(s) if you're interested.