Has anyone heard the PS Audio Digital Link 111?

I haven't owned another DAC so the PSA Dlink3 is my first. My initial impression --- a more fully detailed soundstage, naturally the stage is larger, extending beyond wall boundaries. Minute details have definition. Bass is tight and well-controlled. Mids are warm for vocals, and highs are extended and clean, with minimal hash.
I would suggest ordering a high-grade fuse. I like the PSA Critical Link fuses that are cryo-ed. Similar fuses are available at usedcables.com called Hi-Fi Tuning fuses.
The addition of the fuse and a couple days of burn-in took the above description up a notch.
I am happy with the PSA DAC Digital Link III.
Sorry for the lack of comparison info.
Best of luck.

I have had mine for about 4 months now and really like it can't give comparissons as first one i've had and it replaced a trichord genesis cd player whcih am using as transport, I spend most of the time though using it with my computer (compaq c500, 2 gig ram, running vista) via usb though and with some top quality flac files get the best results, wide sound stage, detail, nice sound - going through a musical fidelity a1000 and quad 57's. Am curious about the fuse comment though pbucci 5261, I'm guesssing goes in the dac and not in the plug, is it easy to put in?

I own a modified DL3 but have limited exposure to the Benchmark. From what I remember I'd say the Benchmark has a slightly less detailed stage than the stock DL3. In a noisy room (I have wood floors), the stock DL3 came across as having a touch of glare (hence my mod), but I have no evidence that says the Benchmark wouldn't have had the same issue. From everything I've read and encountered, the two are fairly similar in most respects with the DL3 getting the nod for detail and the Benchmark giving you a headphone amp and volume attenuation.

I don't think you can go wrong with either. And, since I believe both have 30 day trial periods, nothing wrong with bringing both home and keeping the one you like best.

However, if you like PS Audio products (like I do), their next generation DAC comes out early next year. I previewed it at the RMAF last month and it has potential to be a real game changer with support for every resolution you can dream of, I2S data interface (no transport jitter!!), expandable architecture, and a damn sexy look. Tentative price point is $2,000