But there are good reasons for this. AFAIK, AudioNote is the only current manufacturer to not use oversampling or even a reconstruction filter. With R2R "ladder" DAC's, even though the datastream is not converted to PWM as it is for DAC's using delta-sigma convertors or FGPA technology, there are still digital filters pre digital-to-analog conversion which changes ("throws away"?) the actual data stream. As far as PWM (or DSD), many top digital engineers and designers think this results in better sound anyway; HQ Player (a highly regarded computer music playback software) can convert everything to DSD512, which many listeners think is the best sounding setting available in that player.