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I shall endeavour to confirm, insofar as my Miltary Grade OCD allows!
If the AD-DA is effectively transparent, as you suggest and I hope, then I will be comparing the Chord plus cables to the IAP in terms of their DAC performance alone, which will be interesting to say the least
Sounds good! You might find it easier to record the output of the Chord through the ADC of the IAP (if it's possible to that), and then use a software ABX comparator e.g. in Foobar to compare the recorded output from the Chord to the original digital file.
*easier in terms of not having to deal with hardware switching etc.