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I'm not familiar with the Dayton, but it made a noticeable improvement to my Mackie MR5mk2. Only way to know for sure is to try it.
So no compatibility problem with powered speakers? I just bought the JBL 305 PRO speaker through MassdroP. Unfortunately I thought I could pair those with the SMSL Q5 amp/dac. I bought that but just learned the Q5 should have passive speakers attached and I might blow my JBLs, which have inputs for either 1/4" TRS or XLR cables. How would I connect this M8 (that has single left and right RCA jacks) to the balanced cables needed for my speakers?
The Mackie has RCA inputs on top of balanced ones, so there wasn't a problem. For balanced lines, connect RCA shield to - (usually black), tip to +, and leave the XLR shield disconnected on the DAC end of the cable.