Hi tdogzthmn,
I have the MS II+ as well, but I haven't heard them side-by-side, but the iStreamer is limited to 16/44.1-48 as that is the limitation of the iDevices, and of course the MS II+ is 24/96 and fully async, and it would be hard to do aan equal comparison as the transports are key to the sound of any given dac. I'm sure the MS II+ with my mac mini as transport and my eEssential usb cable would handily outdo the iStreamer, but then again, it is many times the price. I would think the iStreamer is probably closer to the base model MS II, but again, in many ways all of these are very competent sources, especially for the money. I hope that helps -- I'm not trying to dodge the question, but it would just be hard to make an even comparison.
Lee, yes, that's what the wadia and onkyo docks do, but the iStreamer is the only one who has been able to implement host mode transfer protocol, which greatly reduces jitter, and also there are less connections, power supplies, etc. involved in the entire chain when using an iPod and the iStreamer vs. the iPod, wadia or onkyo dcock, digital cable, external dac, etc. Since I've never owned an onkyo or wadia dock, I couldn't comment on the differences, but people who have heard both say that it is a real step forward for the iStreamer. I'm also guessing that like the wadia/onkyo solutions, a better external power supply will potentially take things up a couple more notches, but it's just a guess.
Hope that helps,
Jim