I purchased the Merak after reading this thread.
The sound quality using its Toslink output is remarkable. Cristal clear sound - for me this is a game changer over file playback/streaming and the few other CD transports I have used (Shanling, and a vintage Sony).
I briefly compared the same CD with its ripped file (ripped with the Merak) played back through an attached USB drive. USB playback does not have the magic of CD playback, IMO.
I have not yet checked playback of CD-R, but intend to.
I use it connected to my ECDesigns powerDAC-SX.
I am powering the Merak with an LHY 5v battery power supply which I previously owned, and have not yet tried it with other 5v supplies to see if the power quality makes any difference…