Hello Everyone,
This is a review and detailed measurements of the SMSL PL200 MKII CD Player, Transport, DAC and HP Amp!
It was kindly sent to me by SMSL and this is the link to the official product page.
SMSL PL200 MKII - Presentation
I already reviewed its predecessor, the SMSL PL200 (which scored very well), and so that is the second iteration.
Released in 2026, and replacing the AK4499EX DAC by an ESS9039Q2M, this full aluminum CD player intends to be a high-end one. As before, it can be used as a DAC, from a computer (USB input) and this MKII version adds a very welcome headphones output (Balanced and SE) at the front of the unit instead of the back (previously and only SE). The headphones out offers a high and low gain choice.
I think the price went a little down, at 600$, so that is good news too.
Talking features, we get again a selection of filters (those of the ESS DAC), and also "Sound Colors". With the SMSL PL200, they corresponded to the delta-sigma oversampling rate. I reported some differences in audio band with added distortion by up to 10dB at the time. With the MKII, it is an offered feature of the ESS DAC whereby it is possible to influence the level of harmonic distortion (H2 and H3), here up to -72dBr! This is similar to what I reported with the SMSL DO400, and I'll talk about it later.
The back of the unit did not change much, but we get a clock input on top:
The Bluetooth antenna is now integrated. All outputs, except the digital one, can be influenced by the volume button, and there is a "DAC mode" to deactivate the Preamplifier. Since the volume is performed in digital domain, activating or deactivating the Preamp mode does not change the measured performances.
I recommend using the Preamp mode, and if you use it as a DAC or CD Player, reduce the volume by 3dB. This will grant you full resistance to intersample overs (see later in the review).
User experience
As with its predecessor, here are is my high level feedback:
I will divide this long review into two sections, one dedicated to the CD Player / Transport, and a second one about the DAC and HP Amp.
SMSL PL200 MKII - CD Player Measurements (XLR out)
All measurements performed with an E1DA Cosmos ADCiso (grade 0), the Cosmos Scaler (100kohms from unbalanced input) for analog outputs, the Cosmos APU (for high precision SIAND measurements, and a Motu UltraLite Mk5 for digital.
I am now consistent with my specific measurements for CD Players, as I described them in the post “More than we hear”, and as I reported them for the SMSL PL200 review. It's the same for all my CD Player reviews., so you can compare
All measurements below are with the default "Linear Fast" filter and "Sound Color : Standard", preamp output set to 0dB, unless otherwise noted.
The SMLS outputs 4.281Vrms with the preamp output set to 0dB, from left and right channels, meaning a perfect channel balance. RCA is half of that, again perfect 0.00dB channel balance. The phase is dead flat (Linear Fast filter), and it does not invert polarity.
----
As usual, let's start with my standard 999.91Hz sine @0dBFS (without dither) from the Test CD (XLR out):
Wow, 0 distortion and noise, these are perfect results from a CDA. To be totally convinced, let's overlay that with the original WAV file analyzed in digital domain:
Yep, the exact same. This is as if I was measuring the WAV files I created for testing! It had to happen one day, and here we are. Absolute perfection as a CD Player.
It is the same story at -6dBFS:
The two channels have the same exact performances, and same as from the WAV file. In reality, the PL200 already achieved the same at -6dBFS, but had a little added distorsion at 0dBFS.
----
I usually have a look at any potential PS related leakage, and you saw it before, there are none, or course, even if I zoom with a punishing 512k FFT length:
Again, this is as if I measured the WAV file. The very little low level spikes are due to quantization (rounding) errors in digital domain. This is a good as it can get.
----
Let's talk about the various filters. The Linear Fast is the one I recommend since it preserves the bandwidth, offers the best attenuation and is phase flat. but you have multiple choices:
Have a look at the legend to know who's who.
Let me show my preferred one (Linear Fast) with the effective attenuation of dual tones (18kHz+20kHz):
We get more than -110dB attenuation, fully active at 24kHz. You also see there's no visible noise shaping impact up to 80kHz in that view.
----
Let's have a look at the multitone test that a lot of you like very much, and guess what:
Yeah, perfection for the format, since there is no distortion. The limitation comes from the noise floor, and is due to 16bits quantization.
----
Oh yes, the jitter test:
Best in class, as the PL200 before it.
----
Started with the Teac VRDS-20 review, and on your request + support to get it done (more here), I'm adding now an "intersample-overs" test which intends to identify the behavior of the digital filtering and DAC when it come to process near clipping signals. Because of the oversampling, there might be interpolated data that go above 0dBFS and would saturate (clip) the DAC and therefore the output. And this effect shows through distorsion (THD+N measurement up to 96kHz):
With the volume set to 0dB, the oversampling interpolator has 1dB headroom. Decreasing the volume by -2.5dB provides full resistance to ISO. This is to appreciate, since many CD Masters are recorded too hot. Well done again to SMSL. The -95.2dB is the noise limitation from the format.
----
Let's continue with the good old 3DC measurement that Stereophile was often using as a proof of low noise DAC. It is from an undithered 997Hz sine at -90.31dBFS. With 16bits, the signal should appear (on a scope) as the 3DC levels of the smallest symmetrical sign magnitude digital signal:
The PL200 already achieved perfection on this test, no surprise the MKII repeats it.
----
Other measurements (not shown):
The Dynamic range is the best that can be measured (unweighted) with the Audio CD.
Crosstalk was below what I can measure from CDA at all frequencies, wow!
Pitch error is a very small 2ppm, and reduced to 1ppm when using the LeoBornar GPSDO as the source clock.
----
I like to run a THD (no noise) vs Frequency sweep at -12dBFS as it shows how the conversion has evolved over time. I am currently using the beta version of REW and I discovered that this sweep gives better and more reliable results than before. I did not overlay with other CD players, because it's the best trace I got, again, and actually it is the same if I run the test from the digital output:
That's the distorsion on the test file, nothing else, and left and right channels overlay perfectly too.
----
As I did with the Sony CDP-597, I add a "max DAC resolution" measurement test. It is performed from a 999.91Hz sine @-12dBFS with shape dither (from Audacity). I restrict the THD+N span to 20Hz - 6kHz in REW not to account for the noise of the shape dither beyond 6kHz. I take the calculated ENOB and simply add 2bits to it (due to the -12dB attenuation, as 1bits=6dB). The potential maximum, when calculated from the digital WAV file, is 18.7bits under this test. A "transparent" DAC should achieve 18.7bits, ie 100% in this test.
Here are the results compared to others:
The PL200 MKII repeats the master class results of its predecessor.
----
SMLS PL200 MKII - Testing the drive
What would be good measurements if the drive would not properly read a slightly scratched CD, or one that was created at the limits of the norm? The below tests reply to these questions.
Here are the results:
The MKII does not repeat the same good results as the PL200. Since the drive appears faster to me, it could explain we lose here to gain there. I'm not really concerned since my daily CD Player is still the good old Sony CDP-557ESD that has same performances, and I can't say I'm suffering from that.
SMSL PL200 MKII - Digital Output (from Audio CD)
Ok, so it's a perfect CD player. Nothing more can be expected from an external DAC, the internal one being more than best in class for this ancient format. But let's verify if it outputs a "perfect" digital stream. And, from my standard 999.91Hz @0dBFS file...:
Yes it is "perfect". Same when performing the good old 3DC test:
My ultimate proof of "perfect" digital output is when I reuse the intersample overs test at 5512.50Hz, with a phase shift of 67.5°, like I did for the TASCAM CD-200 review. This signal generates an overshoot of +0.69dB and so if the signal would be modified before being sent (by an ASRC for instance), it would show either a reduction of amplitude or we'd see some sort of saturation/increase noise/distorsion. So here we go:
We get the over, as expected, no distortion, no added noise, and so meaning perfect digital output on my perspective.
Partial conclusion (As a CD Player)
I will continue in the next post about the DAC itself with measurements at 24bits and more.
In the meantime, and like its predecessor: what a CD player! The MKII managed to perform a little better on measurements to reach the equivalent of analyzing the original WAV files in digital domain. Nothing more can be expected at this stage. Well done SMSL since that creates a precedent.
Only the performances of the drive, in terms of resistance to scratched CD, can be improved. But I must admit I loved the speed of action which improved over the PL200.
More than a high-end CD Player, it it the refence, what we will take for granted at this price point.
And it's not only a CD Player
This is a review and detailed measurements of the SMSL PL200 MKII CD Player, Transport, DAC and HP Amp!
It was kindly sent to me by SMSL and this is the link to the official product page.
SMSL PL200 MKII - Presentation
I already reviewed its predecessor, the SMSL PL200 (which scored very well), and so that is the second iteration.
Released in 2026, and replacing the AK4499EX DAC by an ESS9039Q2M, this full aluminum CD player intends to be a high-end one. As before, it can be used as a DAC, from a computer (USB input) and this MKII version adds a very welcome headphones output (Balanced and SE) at the front of the unit instead of the back (previously and only SE). The headphones out offers a high and low gain choice.
I think the price went a little down, at 600$, so that is good news too.
Talking features, we get again a selection of filters (those of the ESS DAC), and also "Sound Colors". With the SMSL PL200, they corresponded to the delta-sigma oversampling rate. I reported some differences in audio band with added distortion by up to 10dB at the time. With the MKII, it is an offered feature of the ESS DAC whereby it is possible to influence the level of harmonic distortion (H2 and H3), here up to -72dBr! This is similar to what I reported with the SMSL DO400, and I'll talk about it later.
The back of the unit did not change much, but we get a clock input on top:
The Bluetooth antenna is now integrated. All outputs, except the digital one, can be influenced by the volume button, and there is a "DAC mode" to deactivate the Preamplifier. Since the volume is performed in digital domain, activating or deactivating the Preamp mode does not change the measured performances.
I recommend using the Preamp mode, and if you use it as a DAC or CD Player, reduce the volume by 3dB. This will grant you full resistance to intersample overs (see later in the review).
User experience
As with its predecessor, here are is my high level feedback:
- It can play a CD with the top cover removed provided you press "Play" for 2 seconds.
- It's very fast at reading the TOC of my 40 tracks test CD
- It will play on the side, which is funny
- It's nice to see the disc rotating, really
- Skipping a track is way faster than most modern players, I like it, and it seems faster and more reactive than the PL200
- FFW and REW are fast too, maybe too fast actually
- The laser head appears less noisy than before when going from the last track to the first one, but I can't directly compare since I gave the PL200 to a friend
- It does not go to sleep mode alone
- It is Gapless playback
- It does not apply de-emphasis, since ESS dropped that from their latest DACs, and SMSL told me that they are looking at potential workarounds with ESS
I will divide this long review into two sections, one dedicated to the CD Player / Transport, and a second one about the DAC and HP Amp.
SMSL PL200 MKII - CD Player Measurements (XLR out)
All measurements performed with an E1DA Cosmos ADCiso (grade 0), the Cosmos Scaler (100kohms from unbalanced input) for analog outputs, the Cosmos APU (for high precision SIAND measurements, and a Motu UltraLite Mk5 for digital.
I am now consistent with my specific measurements for CD Players, as I described them in the post “More than we hear”, and as I reported them for the SMSL PL200 review. It's the same for all my CD Player reviews., so you can compare
All measurements below are with the default "Linear Fast" filter and "Sound Color : Standard", preamp output set to 0dB, unless otherwise noted.
The SMLS outputs 4.281Vrms with the preamp output set to 0dB, from left and right channels, meaning a perfect channel balance. RCA is half of that, again perfect 0.00dB channel balance. The phase is dead flat (Linear Fast filter), and it does not invert polarity.
----
As usual, let's start with my standard 999.91Hz sine @0dBFS (without dither) from the Test CD (XLR out):
Wow, 0 distortion and noise, these are perfect results from a CDA. To be totally convinced, let's overlay that with the original WAV file analyzed in digital domain:
Yep, the exact same. This is as if I was measuring the WAV files I created for testing! It had to happen one day, and here we are. Absolute perfection as a CD Player.
It is the same story at -6dBFS:
The two channels have the same exact performances, and same as from the WAV file. In reality, the PL200 already achieved the same at -6dBFS, but had a little added distorsion at 0dBFS.
----
I usually have a look at any potential PS related leakage, and you saw it before, there are none, or course, even if I zoom with a punishing 512k FFT length:
Again, this is as if I measured the WAV file. The very little low level spikes are due to quantization (rounding) errors in digital domain. This is a good as it can get.
----
Let's talk about the various filters. The Linear Fast is the one I recommend since it preserves the bandwidth, offers the best attenuation and is phase flat. but you have multiple choices:
Have a look at the legend to know who's who.
Let me show my preferred one (Linear Fast) with the effective attenuation of dual tones (18kHz+20kHz):
We get more than -110dB attenuation, fully active at 24kHz. You also see there's no visible noise shaping impact up to 80kHz in that view.
----
Let's have a look at the multitone test that a lot of you like very much, and guess what:
Yeah, perfection for the format, since there is no distortion. The limitation comes from the noise floor, and is due to 16bits quantization.
----
Oh yes, the jitter test:
Best in class, as the PL200 before it.
----
Started with the Teac VRDS-20 review, and on your request + support to get it done (more here), I'm adding now an "intersample-overs" test which intends to identify the behavior of the digital filtering and DAC when it come to process near clipping signals. Because of the oversampling, there might be interpolated data that go above 0dBFS and would saturate (clip) the DAC and therefore the output. And this effect shows through distorsion (THD+N measurement up to 96kHz):
| Intersample-overs tests Bandwidth of the THD+N measurements is 20Hz - 96kHz | 5512.5 Hz sine, Peak = +0.69dBFS | 7350 Hz sine, Peak = +1.25dBFS | 11025 Hz sine, Peak = +3.0dBFS |
| Teac VRDS-20 | -30.7dB | -26.6dB | -17.6dB |
| Yamaha CD-1 | -84.6dB | -84.9dB | -78.1dB |
| Denon DCD-900NE | -34.2dB | -27.1dB | -19.1dB |
| Denon DCD-SA1 | -33.6dB | -27.6dB | -18.3dB |
| Onkyo C-733 | -88.3dB | -40.4dB | -21.2dB |
| Denon DCD-3560 | -30.2dB | -24.7dB | -17.4dB |
| Myryad Z210 | -70.6dB (noise dominated) | -71.1dB (noise dominated) | -29.4dB (H3 dominated) |
| Sony CDP-X333ES | -30.5dB | -24.8dB | -16.3dB |
| BARCO-EMT 982 | -32.7dB | -24.5dB | -16.3dB |
| TASCAM CD-200 | -73.5dB | -36.3dB | -19.7dB |
| Sony CDP-597 | -30.4dB | -24.7dB | -16.5dB |
| SMSL PL100 | -53.1dB | -31dB | -19.1dB |
| OPPO BDP-95 | -39dB | -28.8dB | -19.2dB |
| OPPO BDP-95 (vol -2dB) | -95dB | -97.5dB | -32.7dB |
| SMSL PL200 | -94.8dB | -97dB | -39.5dB |
| SMSL PL200 (vol -1dB) | -94.8dB | -97dB | -58.7dB |
| SMSL PL200 MKII | -95.2dB | -35.1dB | -20.5dB |
| SMSL PL200 MKII (vol -2.5dB) | -95.2dB | -95.2dB | -95.2dB |
With the volume set to 0dB, the oversampling interpolator has 1dB headroom. Decreasing the volume by -2.5dB provides full resistance to ISO. This is to appreciate, since many CD Masters are recorded too hot. Well done again to SMSL. The -95.2dB is the noise limitation from the format.
----
Let's continue with the good old 3DC measurement that Stereophile was often using as a proof of low noise DAC. It is from an undithered 997Hz sine at -90.31dBFS. With 16bits, the signal should appear (on a scope) as the 3DC levels of the smallest symmetrical sign magnitude digital signal:
The PL200 already achieved perfection on this test, no surprise the MKII repeats it.
----
Other measurements (not shown):
- IMD AES-17 DFD "Analog" (18kHz & 20kHz 1:1) : -116.2dB
- IMD AES-17 DFD "Digital" (17'987Hz & 19'997Hz 1:1) : -118.2dB
- IMD AES-17 MD (41Hz & 7993Hz 4:1): -119.2dB
- IMD DIN (250Hz & 8kHz 4:1) : -109.6dB
- IMD CCIF (19kHz & 20kHz 1:1) : -118.1dB
- IMD SMPTE (60Hz & 7kHz 1:4) : -111.0dB
- IMD TDFD Bass (41Hz & 89Hz 1:1) : -131.0dB
- IMD TDFD (13'58Hz & 19841Hz 1:1) : -131.7dB
- Dynamic Range : 98.9dB (without dither @-60dBFS)
- Crosstalk: below -139dBr at 100Hz, 1kHz and 10kHz
- Pitch Error (GPSDO corrected) : 19'997.04Hz (19'997Hz requested) ie 2ppm
- Gapless playback : Yes
The Dynamic range is the best that can be measured (unweighted) with the Audio CD.
Crosstalk was below what I can measure from CDA at all frequencies, wow!
Pitch error is a very small 2ppm, and reduced to 1ppm when using the LeoBornar GPSDO as the source clock.
----
I like to run a THD (no noise) vs Frequency sweep at -12dBFS as it shows how the conversion has evolved over time. I am currently using the beta version of REW and I discovered that this sweep gives better and more reliable results than before. I did not overlay with other CD players, because it's the best trace I got, again, and actually it is the same if I run the test from the digital output:
That's the distorsion on the test file, nothing else, and left and right channels overlay perfectly too.
----
As I did with the Sony CDP-597, I add a "max DAC resolution" measurement test. It is performed from a 999.91Hz sine @-12dBFS with shape dither (from Audacity). I restrict the THD+N span to 20Hz - 6kHz in REW not to account for the noise of the shape dither beyond 6kHz. I take the calculated ENOB and simply add 2bits to it (due to the -12dB attenuation, as 1bits=6dB). The potential maximum, when calculated from the digital WAV file, is 18.7bits under this test. A "transparent" DAC should achieve 18.7bits, ie 100% in this test.
Here are the results compared to others:
| CD Player model or DAC | Calculated ENOB (999.91Hz sine @-12dBFS with shape dither, THD+N span = 20Hz - 6kHz) | Percentage of max resolution achieved (higher is better) |
| SMSL PL200 MKII | 18.7bits | 100% |
| SMSL PL200 | 18.7bits | 100% |
| OPPO BDP-95 | 18.7bits | 100% |
| SMSL PS-200 (from CD player) | 18.6bits | 99.47% |
| Denon DCD-900NE | 18.5bits | 98.93% |
| Onkyo C-733 | 18bits | 96.26% |
| SMSL PL150 | 18bits | 96.26% |
| SMSL PL100 | 17.9bits | 95.72% |
| Sony CDP-597 | 17.5bits | 93.58% |
| Onkyo DX-7355 | 17.3bits | 92.51% |
| Denon DCD-3560 | 17.2bits | 91.98% |
| Yamaha CD-S303 | 16.8bits | 89.84% |
| Revox B-226S | 16.8bits | 89.94% |
| Accuphase DP-70 | 16.6bits | 88.77% |
| Sony CDP-337ESD | 16.6bits | 88.77% |
| Teac VRDS-25x | 16.5bits | 88.24% |
| Marantz CD-73 | 14.9bits | 79.68% |
The PL200 MKII repeats the master class results of its predecessor.
----
SMLS PL200 MKII - Testing the drive
What would be good measurements if the drive would not properly read a slightly scratched CD, or one that was created at the limits of the norm? The below tests reply to these questions.
Here are the results:
| Test type | Technical test | Results |
| Variation of linear cutting velocity | From 1.20m/s to 1.40m/s | Pass |
| Variation of track pitch | From 1.5µm to 1.7µm | Pass |
| Combined variations of track pitch and velocity | From 1.20m/s & 1.5µm to 1.40m/s & 1.7µm | Pass |
| HF detection (asymmetry pitch/flat ratio) | Variation from 2% to 18% | Pass |
| Dropouts resistance | From 0.05mm (0.038ms) to 4mm (3.080ms) | 1.25mm |
| Combined dropouts and smallest pitch | From 1.5µm & 1mm to 1.5µm & 2.4mm | 1mm |
| Successive dropouts | From 2x0.1mm to 2x3mm | 1.25mm |
The MKII does not repeat the same good results as the PL200. Since the drive appears faster to me, it could explain we lose here to gain there. I'm not really concerned since my daily CD Player is still the good old Sony CDP-557ESD that has same performances, and I can't say I'm suffering from that.
SMSL PL200 MKII - Digital Output (from Audio CD)
Ok, so it's a perfect CD player. Nothing more can be expected from an external DAC, the internal one being more than best in class for this ancient format. But let's verify if it outputs a "perfect" digital stream. And, from my standard 999.91Hz @0dBFS file...:
Yes it is "perfect". Same when performing the good old 3DC test:
My ultimate proof of "perfect" digital output is when I reuse the intersample overs test at 5512.50Hz, with a phase shift of 67.5°, like I did for the TASCAM CD-200 review. This signal generates an overshoot of +0.69dB and so if the signal would be modified before being sent (by an ASRC for instance), it would show either a reduction of amplitude or we'd see some sort of saturation/increase noise/distorsion. So here we go:
We get the over, as expected, no distortion, no added noise, and so meaning perfect digital output on my perspective.
Partial conclusion (As a CD Player)
I will continue in the next post about the DAC itself with measurements at 24bits and more.
In the meantime, and like its predecessor: what a CD player! The MKII managed to perform a little better on measurements to reach the equivalent of analyzing the original WAV files in digital domain. Nothing more can be expected at this stage. Well done SMSL since that creates a precedent.
Only the performances of the drive, in terms of resistance to scratched CD, can be improved. But I must admit I loved the speed of action which improved over the PL200.
More than a high-end CD Player, it it the refence, what we will take for granted at this price point.
And it's not only a CD Player
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