That's a pretty interesting/insightful observation. I have the audio-gd loaner DAC in my rack right now and based on some very limited comparisons, it sounds more laid back than the PWD, which surprised me. I didn't think the PWD was that forward (which in some ways I think of as "hot"), but maybe it is. And I tend to prefer that more forward presentation. Still early, though, and the exact difference is really hard to articulate.