I have now had my Berkeley DAC for 4 weeks and finally feel comfortable in stating that it is, without reservation, the finest digital playback I've ever heard. And this is coming from a confirmed vinyl guy.
RH is quite correct in his assessment. I would disagree with one detail, though. While it's true that direct connection of the DAC to amp is necessary for highest possible resolution, I find that it flattens the soundfield a bit. Personally, I find the expanded soundfield to be a good tradeoff for ever-so-slightly reduced resolution. This is, obviously, a matter of personal taste. In any event, it's a moot point for me. LPs still provide 50-60% of my source material, but the fact that it's down from 90% or more is testament to the Berkeley's formidable capabilities.
Rest of system:
Accustic Arts Drive (what a beautifully engineered piece of gear!)
SOTA Cosmos IV
Triplanar Mk VII
The Messenger (preamp, in case you've never heard of it)
Atma-Sphere S-30 Mk III
Audiokinesis Planetarium Beta
Various Kubala-Sosna, JPS, and Stereovox cables - the AES/EBU between transport and DAC is the K-S Emotion