First of all I have no affiliation with PS Audio, just an interested observer.
PS Audio has just announced their successor to the Perfectwave MKII called the Directstream DAC. It implements DSD and eliminates the PCM delivery system and uses a Field Programmable Gateway to acheive results which they say will "uncover more music on redbook CDs than was possible.
If it is purely a memory issue, then it may not take too long. RAM chips are getting faster and cheaper by the day. But for now, we'll just make the best of it. It's very interesting to note that opinions of PP vs 1.2.1 can be so divergent.
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