I'm not sure if a generic phone's DA converter can match the signal quality of a specialized circuit.
http://hackingthepo.weebly.com/ has a terrifically detailed teardown of a PO-16. Or SiLabs (the MCU's manufacturer) did a marketing video / interview with one of the Pocket Operator's designers about the hardware design: https://www.youtube.com/watch?v=ZjrOnlMkJHU