Well I suppose it depends on how you define significant.Forgive my ignorance: does a higher output voltage confer a significant advantage in SINAD? Does output level disproportionately favor the signal over the noise floor? Would both raise proportionally? And if a higher output voltage results in a higher dynamic range or SINAD, should we be moving to higher power outputs to that effect?
As you allude to it can improve the SNR. Significant with the Chords? Possibly not, but some of the DACs are outputting high professional levels so you are not comparing apples with apples, so the table can be a little misleading. We talked previously about colour coding the dacs that have high output voltages, just to make it clear to the reader.
Just to note that its still valid to show the full output SINAD, even if it is a high output - its a correct measurement and number. However if comparing DACs you would say turn the Chord down 3dB to match most other dacs and therefore it would probably have a smaller SINAD in real world use.
It is a little disappointing that they have decided to move against convention and use 3v instead of 2 v output level. in any side by side comparison the louder DAC will win whether its better or not.
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