As jdandy said the HDMI connector on the DAC2 is just a connector - it does not carry HDMI (audio video) like in a conventional audio video gear.
I2S is a connection that is closest to the "bare metal" of the DAC chip and usually does sound pretty good on the DACs I have played with that have both I2S and SPDIF.
You can get I2S HDMI outputs from a PS Audio PerfectWave transport (reads CDs and hires WAV on data DVDs) or from Empirical Audio Off Ramp which gives an async USB connection to your PC
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