Your solution assumes that he doesn't want to use the DSPi on the headphones, but I think he does(for headphone EQ). Troy mentions that he has some coding to do to allow for multiple DSPi's ("once I have implemented device selection in DSPi Console and randomized PID identifier ranges for the boards."). He also mentions that the 4xSPDIF would likely solve the problem, since you could program one or more SPDIF pairs for Speakers/Sub and another pair for for headphone EQ. Of course, that would still require multiple DACs downstream(one for speakers and one for headphones).