The XMOS usb 2.0 audio devices have High Speed USB 2.0 with 480Mb/s of audio data, delivering 24-bit audio, sample frequencies up to 192kHz and from 2-40 audio channels. The one mentioned above with 1M/s samples and 12 bits can be used for other analog applications.
12bits of conversion would sound about as good noise-wise as Dolby C NR on the old cassette tape. Not too attractive in today's market methinks. While CD at 16bits is not quite enough for the highest end, 20bits is still normally overkill.
What an interesting offering with the USB and analog support for audio. I wonder if it has enough fidelity to work as a higher end analog recording/playback device that is USB based? There seems to be a high enough sampling rate, but does high-end audio need more than 12 bits for conversion? I am sure that for most of the general consumer devices this will work just fine. Looking forward to seeing what becomes of this in terms of consumer products.