Tryint to use SPDIF with digi rack 002

[[email protected]]

I've have slowly been trying to build up a recording system that will have a high degree of fidelity for recording mostly acoustic music. To that end I have a separate mic pre and A/D converter. (The sound I am getting directly out of my mic pre into phones is quite nice!) I'm running the A/D at 96K into the SPDIF of a digi rack 002 in the hopes that the Digi 002 will take the SPDIF and run it directly to the firewire port into PT and onto disc. However, after recording some acoustic guitar, setting my outputs for the track to SPDIF, and running it out to a D/A converter and into some monitors, the sound is quite a bit less splendid than even what I'm hearing in the headphone out of the digi 002, let alone directly out of the mic pre. My question is: Am I getting the digital data directly to the disc? If not how can I?
Equipment:
Shure SM81 (Guitar is stereo miked)
Miktek MK300
SPL MikeMan Mic pre
Ross Martin PCM4222 ADC
Digi Rack 002
Audio Technica ATH M50x Phones
Schiit Modi 2u D/A Converter
JBL LSR 308 Monitors

Thanks in Advance