Thanks for the review Amir, great as always! (one small mistake in the screenshot for stereophile test - it's not 21.5dB it's 21.5 bits or 129/130dB; and distortion + noise vs output voltage test is missing)
So this is basically a next-gen C200 -> better screen, better design, newer chips (both XMOS and DAC). However, the asking price is higher than the C200 was on release.
I am a bit disappointed with SMSL not stating correct numbers for their Headphone Out (they state 1.7W into 32Ohms, and Amir measured 1.4W into 33Ohms). Not that it should be a concern for most headphones out there, I just don't like seeing incorrect numbers on spec sheets. There is some improvements to the headphone amp (SINAD for Headphone Out in low gain is now 120/121dB vs 116/117dB for C200), but the power seems to land about the same as C200 with slightly less distortion (which is probably not audible).
As a value proposition, since the DL200 exists, it's not the best price to performance DAC/AMP out there. From what I've seen so far, the DL200 is currently the best price to performance DAC/AMP Combo. However, the form factor and design are different so that might be a deciding factor for some.
Still voted for "Great" as there are only a few DAC/AMP combos which can compete with this in this price range and of course the measurements show excellent performance.