There is no 'sound' though, the PS Audio is just noisier than a lot of other DACs and even then it's only borderline audible.
I'm sure this is similar (I have listened to systems with Rega DACs but not sure if it was this specific one) and they didn't sound bad.
Point is if someone is buying a DAC thinking it has a distinctive 'sound' they are on a non-starter right from the off, and they can buy cheaper, better engineered DACs in any case, so why go for this one?
There are valid reasons to get this DAC but none of them relate to sound quality. You like the look, it matches your other Rega kit, you want to buy British, you just want it etc etc.
It DOESN'T sound bad, honestly it doesn't, but then most of us can't hear -50dB distortion I reckon (and certain high end devices with estimated 40dB SINAD have been worshipped as the dogs danglies elsewhere in the past by certain UK based reviewers in HiFi News and HiFi Choice).
For the standards of 2009 or whenever it was, it's 'good enough' for purpose of sending an analogue music signal to an amp
The thing is here, the last few years have seen an explosion in cheap, very simple, high production volume with low profit per unit dacs with no dealer backup should they fail and a rather differing value judgement. I'm not judging harshly as that's where my sensibilities are these days, but others less able to choose or discriminate, need to rely on their dealer to help and these dealers need their pound of flesh (Rega dealer margins here are NOT as generous as Naim or Linn offer for example).
The two dealers I know well that stock the DAC-R barely know about the Toppings, Schiits and SMSL's of this world and couldn't make any money out of them even if they did, as selling prices of these units would at least double if a proper warranty was added.
The kind of dacs I'd like to see modern-day tested are things like the Theta Pro's and so on, as I found them so good at the time if maybe limited today...
Forget all about this one. It's not aimed at 'us' here and is old news now anyway unless it gets a full update. Let it lie in peace and move on
P.S. Rega owner Roy Gandy remains convinced to this day that analogue and especially vinyl is where it's at and digital doesn't come close (recent interview regarding the new high end turntable they've launched). This may help explain why products like this have stagnated...