If anyone wants to discuss how these things sound, let me know.
My experience with NOS DACs dates back several years. I used to own the Diyparadise Monica NOS DAC. It was a nice enough DAC and saw service for about a year in my system.
However, it was a little too polite (laid back?) for my liking. I have tried oversampling DACs like the Keces DA 131.1, and Meridan Explorer (still have it), and much prefer them to the Monica. In my opinion, the dynamics are a lot better - just my preference.
I have not heard recent NOS DACs like the well known Audio Note and so cannot tell if I might like to own one again.
One of the "problems" if you will, of non-oversampling technology is the appearance of so-called image frequency components in the output of the D/A convertor very close to 20kHz. This necessitates the usage of a very steep (brickwall) filter to remove those image frequency components from the final output.
Here is what I mean. Let the signal the DAC is trying to reconstruct be a sine wave at 20kHz.
Since there is no oversampling of the digital samples, the sampling frequency stays at 44.1kHz (or whatever else it might be). This means that the "image" frequency components will be created at each of (N*44.1kHz +/- 20kHz), with N = 1, 2, 3, ...
So, we will have image frequency components at:
- 44.1 - 20 = 24.1kHz
- 44.1 + 20 = 64.1kHz
- 2*44.1 - 20 = 68.2kHz
- 2*44.1 + 20 = 108.2kHz
etc.
Notice how the lowest image frequency is at 24.1kHz. If we want to retain the 20kHz signal, and eliminate the 24.1kHz signal, the filter needs to be quite steep.
If you do not apply a low pass filter and let the image frequency components through, then you could be asking your amplifying chain to amplify those image components that do not exist in the original signal.
With oversampling, the image frequency components are pushed out well beyond 20kHz. With 4 times oversampling, the lowest image frequency component will be at 4*44.1 - 20 = 176.4 - 20 = 156.4kHz.
Now, it is a lot easier to design a filter that will preserve the 20kHz signal, and filter out 156.4kHz and up.
But that is the theory. One might just prefer the sound of the NOS DAC over that of the oversampling DAC.