Also got one of these.
I also have a Dragon Fly Red. First thing I noticed is that on mine, despite the user instruction and marketing saying the unit is capable of 24/192 my unit only shows up as 16/48 max.
I use Audivarna Plus on my Mac for playback - when using the Bitstream 16/48 is the highest resolution possible. Plug the Dragon Fly in and its 24/96. I also then loaded a 24/96 file and its the same thing.
I notice that on the instructions it says choose 'Bitstream' in system Prefs/Sound. Mine is just simply USB AUDIO DAC.
Before I contact the seller can anyone confirm that the unit is indeed capable of 24/192?