In this video I review the Shanling EH2, a $369 R2R DAC / headphone amplifier that’s also a preamp for a stereo system. The big selling points for me are the OS / NOS options and, even more importantly, the on-the-fly hardware EQ. Being able to dial bass and treble from the front panel is genuinely useful, especially when you’re pairing brighter headphones and you want quick synergy fixes without adding noise or weird artifacts. Sound-wise, the difference between OS and NOS is large enough that you’ll likely stick to just one. I personally prefer OS mode: it’s more “traditional” sounding, more natural for most modern music (rock, metal, EDM, dubstep), with better attack and engagement. NOS is smoother and softer, with less edge and impact, and it can show a bit of grain, but it can also be really enjoyable for classical where that extra sense of texture and cohesion can help a large orchestra make more sense. Power is another surprise here: close to 4W means it can drive tough headphones like HIFIMAN Susvara and Susvara Unveiled, which is rare around $400. I do wish it had XLR outputs (it’s RCA only), but it does include a 4.4mm balanced headphone out, and overall the feature set and performance make the EH2 a strong desktop pick in its price range.