It was a distinct and immediate improvement to my ZENmini Mk2 (with Keces P3) and after this to my ZENith Mk2.
Prior to that the ZENmini MK2 was an significant improvement as against iPad or iPhone as streamer. The Keces P3 significantly improved the ZENmini Mk2. A better power supply for my router improved my chain a little bit (iFI Audio Power X, 12V). My unmodified Zyxel GS108B improved my chain a little bit more (only €20, bought after the modified Zyxel out of curiosity). My modified Zyxel GS108B improved my chain a little bit more (Sellarz clock and other measures). A better power supply for the switch improved my chain a little bit more (iFi Audio Power X, 5V). Some say the modified Zyxel betters entry-level commercial switches (for example Silent Angel Bonn N8, likewise based on the Zyxel). Some say higher linear power supplies further improve the Zyxel.
My (second-hand) PHOENIX USB is the most expensive digital component in my (second-hand) digital chain, but turns out as good value that improves entry- and upper-level components alike. The sequence of emerging bargains biased the sequence of upgrades, i.e. 1st PHOENIX USB, 2nd ZENith Mk2. I abstained from an MK2 SE double the price (and I at times regret). So far no bargain ZEN Mk3 or ZENith Mk3 or PHOENIX NET. I understand PULSAR makes the PHOENIX USB redundant. The STATEMENT in addition makes the PHOENIX NET redundant.
It's a loaded budget and an inflation of separate boxes at my digital front end, but biased by the "it's alI 1s and 0s" camp I had no confidence in buying an upmarket one-box-solution, in particular by mail-order from a private seller. With the same DAC and active speakers I believe that after the upgrades I hear in part small and in part astonishing improvements. Anyway, my flat with medium-sized room, neighbours above and below, wooden floor and ceiling, limits space and sound level for bigger speakers, horn speakers or electrostatic speakers that occasionally impressed me at audio shows.
An audio show with Grimm MU-1, LS1be and SB1 triggered my recent journey. I wasn't immediately impressed at the show, but I stayed longer, came back and afterwards at home I missed something. I still struggle to verbally describe the missing quality, just as I dodge to verbally describe the perceived quality improvements in my digital front end. Some day I may conclude that Grimm MU-1, PULSAR or STATEMENT would have saved me money and a long journey, but isn't the journey the reward?