
I understand my goal specs might be overkill and I hope we can save that debate for elsewhere.
Hard to do that when your requirements (at least for any direct drive DAC) make your goal impossible.

I don't think you'll find anything fitting your requirements in a single chip. Anyway, properly driving headphones with impedances down to 4 ohm will require something beefy; a TLV320DAC3203 or similar won't cut it. You may have some better luck with some class-D amplifiers with an integrated DAC (TI has a few), but they will probably not meet your requirements in terms of SNR.
But if you absolutely need to fulfill your end goal... (I'm not gonna discuss the relevance of your requirements, it's your call, but frankly, if "all" you need is a SNR > 100dB, you don't need 32-bit.)
If you still want a 32-bit DAC, your choice will be pretty limited and you'll have absolutely NO choice but using a separate DAC and amp section. The additional sample rate > 300kHz spec is another hurdle. For instance, there's the PCM1795, a 32-bit, but 200kHz max DAC. Then there's the "top of the line" AK4499EQ from AKM (supports up to 768kHz). About $83 at Digikey. Edit: just noticed it had 4 channels; you could go for the AK4497EQ instead, more "affordable" at $50, but interestingly, the 4-channel version has better specs.
For the output stage, Your additional requirement of no DC series capacitor is yet another hurdle. I actually designed two amps with no output caps (one headphones amp, one 70W RMS power amp), and both with symmetric power supplies. This requires careful design and ideally additional monitoring circuitry to avoid any speaker damage in case something goes wrong...
Are there actually any headphones with 4Ω impedance?
I don't think they get below 16Ω, except for some recently introduced crazy ribbon stuff which is less than 1Ω.
Are there actually any headphones with 4Ω impedance?
I don't think they get below 16Ω, except for some recently introduced crazy ribbon stuff which is less than 1Ω.
Ok, let's talk specs.
1 - What specs do I need to make high quality headphone audio?
2 - What specs do I need to get sales?
In the market I've been watching, products with over the top specs get way more sales than products with good prices.
I don't want to spend $50/DAC and I don't want to hose the audiophiles. I just want to fill that void between great and good. Specs to appease audiophiles without going too far overboard and making it needlessly expensive.
I think $10/DAC at qty 100 should get specs that rival the audiophile grade over-priced stuff. Does that sound reasonable?
2 - What specs do I need to get sales?
I thought you were looking at making an 'as-simple-as-possible' one-off for yourself!Ok, let's talk specs.
1 - What specs do I need to make high quality headphone audio?
2 - What specs do I need to get sales?
In the market I've been watching, products with over the top specs get way more sales than products with good prices.
I don't want to spend $50/DAC and I don't want to hose the audiophiles. I just want to fill that void between great and good. Specs to appease audiophiles without going too far overboard and making it needlessly expensive.
I think $10/DAC at qty 100 should get specs that rival the audiophile grade over-priced stuff. Does that sound reasonable?
As far as DACs go, any good 24-bit DAC is all you need here. A lot of choice really for a few $ each. 32-bit would really be overkill here IMO and would make your product almost look close to "audiophool" stuff. The PCM1794A for instance is a "classic", and very good ($9.9 per 100 at Digikey). Supporting sample rates over 192kHz is IMO unncessary. No audio material is routinely available with higher than this anyway, and if you look at the figures carefully, you'll find out that the DACs supporting higher than 192kHz will have degraded performance for the higher rates. Not much benefit in practice.
The "critical" part will be the power amplifier stage IMO. Whereas getting better than 100dB (or even 105dB) SNR is definitely not too hard with a decent DAC, proper supply and proper PCB layout, getting this level of SNR for the whole chain up to the headphones will be much more difficult.
2 - What specs do I need to get sales?
I thought you were looking at making an 'as-simple-as-possible' one-off for yourself!
It sounds as if rather more market research is needed before you start picking components.
What is your audio source you plan to connect the DAC to? USB? Optical? Arduino?
aside from spending a few extra bucks and potentially looking like audiophool, are there other downsides to going with 32-bit?

Can you recommend any good resources for learning more about layout practices for good SNR?
I've been learning about EMC lately and seeing conflicting advice from EMC people saying never separate ground planes even when datasheets recommend separating analog and digital.

) and I hope you know what jitter is because you will be asked about it whether you know or not.
All I see there is a well laid out descripion of warnings I should consider and directions to where I can find more info and I appreciate all of that. I understand the audio market has a ton of competition (and consumers). Normally I avoid that type of stuff and focus on unique products because I can't compete with big players except for my very low cost of R&D. But in this case I think I have a unique idea. I tried buying the product I want but could not find it so now I am trying to fill this void. I understand if it does well I'll probably get copied and squashed by much bigger players but that seems to be the case with everything and maybe less so in audio. Really not sure about this part but it seems there is some appreciation for high end products from small companies in audio.