what improvements in sound quality did you hear between receiver chips?
what system are you running amps,dac,speakers etc?
I made the S/PDIF receiver gizmo several years ago to experiment with DAC linearity. At the time, my audio system was CD-based, no PC, and the only way I could modify the sample data was with hardware.
The AD1865 is an 18-bit DAC. Shifting the sample data one or two bits to the right, preserving the sign bit, would not truncate the data but move the conversion into a different position in the R/2R network and perhaps change the sound quality. I wasn't expecting the new receiver chip to make any difference. The digital-analog conversion in the AD1865 is triggered by word clock, not the bit clock as it is in most other serial input DAC chips. The chips in the CS841x series all generate the word clock (aka FSYNC) based on the timing of the S/PDIF preambles and is not dependent on the PLL.
I was surprised by the improved clarity and resolution. An additional benefit was the ability to receive sample rates up to 192K even though the CS1815A is only rated to 96K. I attributed all that to the careful layout of the digital circuit surrounding the receiver chip. The experience also encouraged me to quickly migrate to PC-based digital audio and design my own DAC.
At the time, my audio system included:
Speakers: Avantgarde Acoustic Trio (Omega);
Amp: Art Audio Jota (monoblocks);
Preamp: Hovland HP-100 with MC phono stage;
Vinyl: SME-30, SME IV-Vi, Cardas Heart;
CD: Sony 707ESD, Audio Note DAC 1.2;
Cables: DIY;
Power: Equi=Tech 1.5RQ & 2.0RQ;
Stands: Grand Prix Audio Monaco.