The following quote is from George Cardas ( maybe you've heard of Cardas Cables?)

". The Toslink is not particularly a good system. It is inferior to the better digital cables. The problem is, the signal is electrical to begin with and in the end it must be converted back to electrical. So in short runs, the advantage is with electrical cable, because you don't have to go through the conversion from electrical to optic and back. I believe Neutral Reference has the lowest overall jitter of any system in the lengths used in audio. - George

Mike