Thank you for your detailed experience report. We will consider it for future reference.
Regarding the USB driver, for example, when I connect Topping E30ll to my Windows 11 PC,
Without a driver, it will be authenticated as a USB device named "Speaker (E30 ll)".
In this state, when played by the Windows 11 audio system, all files of PCM44.1~768kHz DSD64~DSD512 will be resampled to the preset sampling rate and output as PCM files. Naturally, DSD cannot be played.
For Foober2000, if you select Speaker (E30 ll) [Exclusive] in "Output", the original PCM44.1~768kHz will be output without being resampled. DSD is converted to 44.1kHz and output.
ASIO output is obviously not possible.
When you install Topping's USB driver, it will be certified as "Speaker TOPPING USB DAC". The difference from when there is no driver is,
The "E30 ll" part of the Foober2000's "Output" display will now display "Topping USB DAC". If you select "Speaker (Topping USB DAC) [Exclusive]" for Output, all files will be output as original PCM44.1~768kHz without being resampled. DSD can be played from DSD64 to DSD256. (DoP mode? DSD512 is not possible)
Also, the ASIO output "Topping USB Audio Device" selection has been added to the "Output" column, allowing operation in ASIO mode. Select this to play all files.
In my explanation, I am connecting E30 ll, but it should be the same with M300SE.
When using a player such as Foober2000, you can play PCM44.1~768kHz and MQA without a driver by selecting [Exclusive] mode. The only thing that cannot be done is native playback of DSD.
I am also wondering about the operation of PCM705/768kHz of CS43131 of M300SE. I previously asked a question about this on ASR, but there was no response. In my opinion, it's probably down-converted with an XMOS XU316 chip.
The same goes for the Topping D70 Pro OCTO with CS43198.
I don't really understand the history and differences between WASAPI's Push Events. However, the only knowledge I have is that Event has a lighter load from the PC's perspective, and Push is superior in terms of sound quality.