In great condition. Probably around 3 years old. I am the second owner. All updates have been done. If you love a detailed sound with a flat frequency response and warm musicality, this is the DAC for you. It is a great achievement I think, because I found that exceptional detail generally comes with a cold analytical presentation. Not here. I also owned a DAC1. this version sounds more dynamic with an even blacker background. I think DAC2 is a much bigger step up in sound quality from DAC1 (as opposed to DAC 3 from DAC 2).
This also has a preamp functionality, and it has analog inputs in case you need them. I would not go drive a $20,000 Pass power amp with this, but for most mid-priced systems, you might be pleasantly surprised.