driller …. I've not heard the NuWave, so I can't give a solid comment. I will say that the BiFrost MB is a special piece of gear with a sense of "rightness" that eludes most digital in this price class. I have heard direct comparisons in my system between the BiFrost MB and the Audio Metrum Musette and the Grace m920. The "you are there" quality of the BiFrost (especially on vocals) bested both of these higher prices units. The Musette and the Grace both had tighter and seemingly more accurate Bass (but all were good). The Musette threw a more "realistic" and slightly better defined soundstage and the Grace offered more detail especially evident on complex orchestral music. But vocals sounded "small" on the Grace - which was very odd.
All of that having been said, when I don't have more expensive units on hand to directly compare the BiFrost MB to, it is always satisfying to hear the "rightness" of sound that many of us associate mostly with quality analog sources. As good as the BiFrost is (and it is great)… I'm itching to hear a Gungnir MB and a Ygadrassil MB - as I can imagine that with multiple DAC chips (and even better ones) and with fully discrete analog sections that they must be even a cut above the Musette and the Grace? Personally, I think that Schiit is onto something with their execution of the MB DAC's. Every time I listen to one of my CD's or Hi-Rez files I am amazed at how "different" they sound through the BiFrost MB DAC … placement in the sound stage, harmonic structure, attack envelopes, etc. just sound "right". I listen to far more music now that I have the BiFrost MB … and that tells me a lot. I'm not saying that it is the "end-all" of affordable DAC's as I've not heard them all. But, it is a very nice sounding piece of gear. Better than I had expected when I ordered it.
Please note that I run my computer USB feed through an iFi iUSB before entering the BiFrost MB and I do find that this improves the BiFrost's USB sound a bit. CD play from my player via co-axial is also stellar and very enjoyable. Virtually all of my CD's are listenable and enjoyable now - whereas many of them were not pleasant with previous DAC's.