This is great value in the scheme of current audio affairs, functionality and technically wise leaps and bounds ahead of 99,8% of hifi DACs.
USB and one setting for both channels is better than nothing, but PEQ to be really usefull has to be available separately to each right and left channel, and to all inputs, so that is a big miss.
Many of us have their speakers in slightly different acoustic environments ( like me, where my left speaker is closer to a side wall than the right one ), and most of us want to use at least two sources, and want the best sound quality for all. We also need to have different PEQ memory settings for each input, desirably a couple for each, like, just for TV I may have a setting for speech, (news and series) and different ones for movies or concerts..
Now, everybody is shouting rightly so, "We want PEQ!", but EQ is not in my opinion the only thing you need on a DAC ( I will leave DRC out here..),
You absolutely need volume corrected variable, adjustable loudness baked in, if you don't listen at the same volume every time....
The one thing no one else other than RME to my knowledge has come up with, is a completely user programable and tunable Loudness feature like their
ADI Dacs. It lets you program how much of it, the tapering down of the effect as volume goes up, and at volume the compensantion is maximum and when it finishes, wich is essencial for it to work correctly with different source, program and amp and loudspeakers gains, and give you its benefits.
This is in my opinion almost if not as usefull as EQ, as the magnitude of the effect this has on sound perception is easily as notable as a PEQ corrected speaker in an actual listening space, if you vary somewhat your listening level like I do (super low working, low, eating or background, lowish in the evening ,normal during the day, all hell breaks loose here and there for a bit..).
Plus, not just some, but All speakers and rooms benefit, wether lousy or those already with actual textbook in-room response, because this psicoacoustic volume dependent frequency perception effect is always present and only has to do withthe actual listening volume spl (see Fletcher-Munsoon curves).
However, no one seems to ask for this features... I think that unwillingness it has to do with the old, bad reputation, too heavy handed on and off and fixed implementations, and the straight path, no editing audiophile snobbery..If lthey heard it properly done like the old Yamaha (limited flexibility, but better than nothing) and especially the fully programable and variable kind like RME does in their DACs, they would never want to go without. ...Instead, everyone EQs their system to a set volume, the one they listen the most, effectevelly baking in some loudness corretion, so their system only sounds correct at that spl, and listen in dissatisfaction when their program changes, they change the volume , or switch to a source with different gain or overall playback level.
This feature single-handledly secured an immovable status of the RME as the center piece of my system,as for now I can't get that anywhere, not in DACs, Roon, Streamers EQ or DRC software that I know of.
Topping has done a stellar job ,pushing the envelope and at a very good price (the reliability and political considerations I will leave up to you)
I hope manufacturers in general go down this path too with the PEQ, but someone else than RME must implement the programable loudness feature.j
Just as EQ, it needs to be baked in if you want correct reprodution, any time , at all listening levels.