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Chris Connaker has posted a review of the M2Tech hiFace USB to S/PDIF converter ($) at the Computer Audiophile. His conclusions:
The M2Tech hiFace entered the audiophile scene as a little known device from Italy. It soon surged to the top of several recommended lists. Groups of audiophiles on the Internet couldn't get enough hiFace-time. None of these hiFace users are wrong. It's a good component if it sounds good to the individual listener. Period. The hiFace does offer good specs and features on paper. There's no doubt the M2Tech design team had the right idea. After several months of listening and comparing I think M2Tech's implementation is a bit underwhelming. The hiFace offers good stand-alone performance and value while simultaneously disappointing me. The fact that I believe it's overrated has just as much to do with hiFace users' opinions as it does the hiFace's performance.
I'm going to end on a positive note. I wish no ill will to M2Tech or any manufacturer. We are all part of the same industry and wonderful hobby. I hope M2Tech continues the success of the hiFace with its new upscale Evo product. At $150 the price to performance ratio of the hiFace has got to be at the top of the charts. Audiophiles used to spending tens of thousands of dollars for an extra 0.01% of performance may be a bit disoriented by the hiFace's value.
You can read the full review here.