You're way behind. The latest version is 1.3.2.

Lots of opinions when it comes to audio, but just listen a minute to an mp3 track I ripped (legally) from a YouTube video with Audio Hijack (regular edition under 10.7.1), I can clearly hear the difference to iTunes (which would no play the song until I quit Audirvana, but Audirvana could play it while iTunes was running). In my opinion it sounds much better than iTunes (for whatever reason). And this from listening to it through the in-built speaker in a MacBook Air ... more audiophile than this one has not to be in judging the difference. (Normally I listen mostly these days only to mp3 Lame encoded VBR high quality on an older iPod Nano (as it sounds much better than through my iPhone) and with Yuin pk-2 (which gives the most easy access to decent sound, I think).)

Since Jul.22-2011 theres a new version (0.9.5) out. Following the link for downloading this one ... thanx to the dev. for Audirvana

http://code.google.com/p/audirvana/downloads/detail?name=Audirvana%200.9.5.zip&can=2&q=

I am absolutely blown away how this makes my logitech z4 speakers sound like bose soundsticks. My thanks to the developer for ending my search for getting good sound out of my mac and for free yet. I am so impressed I had to make a donation. Keep up the good work!

Great application, one of the best audiophile solutions and the only free of them. I still prefer Fidelia for sound quality, though difference is very slight. And in my view Audirvana surpasses all other commercial applications of this sort. One bug that I noticed – playback may hang sometimes when simultaneously other processor intensive applications are running, which is much less so with Fidelia. Hope the developer makes it work more smooth.
Also wanted feature to import from iTunes library without a need to start iTunes.