This then begs the question: what will come out of the SPDIF outputs of the Auralic device? Surely not 352! Not possible. So there is immediately a limitation there which the Meridian equipment doesn't have.
The Auralic also has a USB output; however, I find it unlikely that anything other than vanilla PCM will be output, which means no ADC compensation in the DAC.
Aries spec:
Output
USB 2.0 High-Speed for compatible DAC**
AES/EBU, Coaxial, TOSLINK***
** 'compatible DAC' means a DAC do not require a driver for Mac OS X
*** Sampling rate limited to 44.1K - 192K and DSD64 only