Hi Lee. I'm assuming you've read my thoughts on the NOS1 (original) vs. the Pacific Microsonics Model Two here
http://www.phasure.com/index.php?topic=1549.0?I've got a couple of potentially really important caveats to my thoughts though:
1) I've always been aware that my Model Two was one of the earlier ones, used as the in-house demo unit by PM for a couple of years. But I've recently learned that my unit is actually a pre-production unit. Some people believe that the later 'Euphonix' units sound better than the earlier PM units. However, Dave Peck (production manager at PM, now at Avid) assures me that my unit meets all the PM2 standards... and his measurements confirm that my particular unit has state of the art ADC and DAC performance).
2) I don't have a Mykerinos card, considered by some to be the best way of interfacing a Model Two to a computer. Nor do I have a Lynx AES16. Rather I use either a Weiss AFI1 firewire unit (upgraded with a linear Paul Hynes PS) or an RME AES-32 PCI card. I've done extensive tests comparing the 'direct' ADC->DAC path with the 'indirect' ADC->computer->DAC path. I'm convinced that the PM2 itself set to 24/192 is pretty much completely transparent. However, I'm not sure that either of my AES interfaces are completely transparent.
With these caveats in mind, my thoughts in the aforementioned thread stand 100%. The NOS1 is a better DAC than the PM2. Not just my thoughts, but the thoughts of others who have compared the two at my place also.
Oh and by the way, cut out the cr*p about marketing. If you knew Peter, you'd know that he's not like that. And of course, it's totally against my interest to be potentially eroding the market value of my own PM2!
EDIT: Forgot to mention that I have three Zalman TNN300 PCs. Two with Gigabyte cards (with an E8600 and an i7 - the latter a total bugger to fit and get working in the TNN300!) and one with a Asus PQ5-EM (with an E8600).
Mani.