I can't see any good technical reason for running multibit DACs at 768kHz sample rate. I can see one important reason not to - glitches always increase as DAC chips are run faster. The PCM1704 datasheet demonstrates with hard numbers that the chip's performance degrades at higher rates - its performance is poorer than the previous generation (PCM63) which ran at half the speed (384k). TI/BB has managed to disguise this fact rather nicely by swapping over from dB to % measurements in their tables but its only necessary to do a bit of math to reveal the truth 
What's even more interesting is that the PCM63 was characterized at -60dBFS level, the PCM1704 datasheet omits this measurement entirely. The enquiring mind wishes to know what they're hiding.
What's even more interesting is that the PCM63 was characterized at -60dBFS level, the PCM1704 datasheet omits this measurement entirely. The enquiring mind wishes to know what they're hiding.