I thought SL was an upgrade over SPDIF. It is 'balanced' vs single-ended basically.

With that said, connectors and cable still matter. Meridians SL cable is ok. Supra Ethernet cat 8 pretty good but not flat form-factor, AQ Vodka RJ/E better, AQ Diamond RJ/E better still, Shunyata Omega Ethernet the best I've tested and it is not a subtle difference IMHO with the Omega.

DSP8000SE, DSP7200SEHC, DSP5200SE sides, DSP7200SE rears, 861v8, 210, Sim2 Ultranero 4, Stewart Cinecurve 2.35:1, XEIT CM-5E Anamorphic lens, Dune HD Duo Cinema 8K and Wireworld Platinum 48G HDMI -> UHD722 -> Shunyata Omega Ethernet. Shunyata/Furutech power-cables/filters. SR Master Fuse@861v8. Uptone Etherregen with 10MHz OCXO clock.