Wrong Tom. I am a Kickstarter backer and proud owner of the Neil Young Limited Edition # 170/500 Pono player. It will play ANY music file format from DSD to lowly mp3. The sound will drop your jaw. You have never heard anything like it.
Stereophile magazine just named it the digital device of the year, beating out digital players that cost 3-4X as much. I rarely use iTunes anymore, and am slowly building my hi-res music collection.
If any of the tapers want to put their 24-bit recordings up, instead of converting to 16-bit, I wouldn't mind.