With my Pegasus II you can now assume that my device has completed the warm-up and I have to say, I am more impressed with the sound of this DAC than ever before. The sound is full, full of dynamics, great transparency, I don't notice any of the supposed slowness... I can't say which DAC/preamp combination sounds better, our Gustard R26 with the integrated preamp or the Pegasus II in the office the Aune S17Pro as a preamplifier. I also can't fault the resolution compared to the R26. Maybe it's my other devices, i.e. the entire hi-fi chain, which has a very positive effect on the Pegasus II here in the office, but in any case it's really absolutely great here. It copes better with all acoustic music than the Gustard R26, and the voices are perhaps a little better. The R26 is perhaps a touch more relaxing than the Pegasus because it has such a certain consistency across all genres of music.
I also considered the Topping DX9 because it is a promising all-in-one device and tried it at home. I didn't like the DX9 at all with the integrated preamp, but with the Aune S17pro as a preamp the DX9 was like a replacement, downright terrific. Breathtaking dynamics, extremely clear, only a slight lingering of the higher frequencies bothered me a bit, but otherwise really great. In the meantime I had already ordered the Pegasus and delivery was on the way. I also have to admit that I would only have kept the Topping DX if I didn't need an external preamp, because then the combination for the office would have slowly become an expensive investment.
A little thing: I had to look a little for settings for the I2S input because the standard pin assignment didn't match the SD-9 from SMSL, but you can change that with the NOS button (if anyone wants to know).
I'll probably try one more thing, namely I read about the tip to replace the micro fuses, which should open up the sound even more. I'll try it, but from my point of view that wouldn't be necessary, as I'm already taking measures in the other direction to tame the transparency and resolution a bit. I find poor sound recordings to be a little more difficult to listen to on the Pegasus than on the R26. So I don't think I want the sound to be any more open and transparent, it's great.