Hi-en DAC with 7846A 16-bit DAC?

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I'm working with CD/DVD players right now, and searching for the best sounding digital scheme with Sanyo LC78621E DSP. Now I'm looking at an 16-bit DAC, namely 7846A from Maxwell Technologies.

Before going to far with this chip, I'm asking for input from you guys whether a high-end DAC is possible with this chips?
 
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