Hi 2Bdecided, thx for the great analysis
btw, one thing always puzzled me: very often the effect of this kind of device on the signal is a simple lowpass filtering...the same applies to some "zero oversampling" cd player equipped with only analog output filter or the digital filters settings used by pioneer (IIRC they call it "legato-link").
Would be interesting to see if there're psycoacoustics studies about the subjective advantage of this kind of rolloff even if is "less hifi" than the true flat freq. response.
Maybe the audiophiles like to cheat theirself with some exotic pseudoexplanation
instead of simply admit to like a sound with less hi-freq