I guess this is finally out. See photos here: http://www.schiit.com/products/modi-1 Front plate selector for input: toslink, coax, or USB. Two micro USB in the back. One for power and another for data / power. The neat thing is that the data USB input can be zero draw while the power USB is plugged in, so use with tablets and phones is feasible. I'll need to test this out more. A big change is no more AC wall wart (as with the Modi Uber). Schiit went with a switching power supply - a USB cable and wall adapter is included too. As for the sound, I find it hard to believe that it's a SD DAC. AKM and BB179* are the best of bunch in terms of presenting sound with a minimum of digital nasties, but it looks like Schiit has taken this a step further from the prior AKM4490 based Modi 2. There's still a bit of that AKM "velvet" sound going on (see here for an interesting read: https://www.superbestaudiofriends.org/index.php?threads/akms-velvet-sound.2356/). The attacks aren't as sharp as the 4396/4399 based chips, the mids are recessed; but staging and resolution take a noteable step forward. Tonally, the Modi 3 sounds stately, laid-back, refined. Not quite as sloped / dark as the Modi Multibit, but it does have marginally better clarity. Where the Modi Multibit pulls ahead is with the imaging where there is stuff front, back, in between, etc.