I showed the real-time spectrum of the analog output of Marantz SACD player using my Audio Precision:
Yes, that's just Marantz' take on how to do the D/A conversion.
Nope. To pretend there is spectrum above CD in SACD/DSD64 encoding and playback, all or most of that noise is output. From marketing point of view they simply can't filter it all out or they would have nothing left of the ultrasonic response.
Yes, that's the case for DSD64. As I said before, you can consider it bandwidth wise equivalent to 48/24 PCM. It just lacks the brickwall filtering artifacts.
DSD64 has ~25 kHz of noise free bandwidth.
DSD128 has ~50 kHz of noise free bandwidth.
DSD256 has ~100 kHz of noise free bandwidth.
DSD512 has ~200 kHz of noise free banwdidth.
DSD1024 has ~400 kHz of noise free banwidth.
Pick the rate based on how much noise free bandwidth you need. But none of these are plagued by artifacts of the brickwall decimation anti-alias filters. So your time domain performance of DSD64 will beat 176.4k PCM.
PCM doesn't have that issue. You get 96 kHz content and it will have 48 kHz of encoded content.
Problem is that 96 kHz is useless for D/A conversion without subjecting it to heavy DSP processing first. If you are using any delta-sigma DAC for playing it, it will go through all the oversampling and delta-sigma modulation to put the noise back there before it can be converted to analog. If you are playing it through NOS R2R ladder at that rate, you are producing horrendous amount of correlated ultrasonic distortion.
And you won't be able to tell if that is recorded in DSD128 or not. You can even take that, convert it to DSD128 and back, and still you wouldn't be able to tell the difference.
Same way with DSD, you get DSD128 and you get ~50 kHz of encoded content. And with a good modulator you get more dynamic range than 24-bit PCM can provide.
I once made experiment just for fun. I took RedBook file, converted it to DSD64 and then back, and was able to obtain bit-perfect copy of the original, despite the conversion.
Here is a track from Diana Krall 96 kHz sampling album
And here's 96k PCM conversion I just made today using my tools from multichannel DSD256:
But I rather play the original multichannel DSD256 than some PCM conversion of it.