Bruce and I have both been looking into this for some time. I have one of the first production units of the new Z-sys Optipatch: 8-in, 8-out matrix switcher that handles 24/48kHz ADAT very well. None of the other patchbays seems to handle 24-bit ADAT at all well- the Fostex and Midiman offernigns are known to not do it.
I've had my Optipatch for 2 weeks, and it is a tank: no jitter problems, no problems of any kind. It's like their digital detanglers (same user interface), but it does not include any sample-rate conversion or format conversion: it simply routes ADAT lightpipe to ADAT lightpipe, or SPDIF optical to SPDIF optical, and does it very well. $500, or probably less if you beat the bushes.
http://www.z-sys.com/pp_detm.html The Optipatch is so new that it isn't even on their web page yet- but it looks very much like
the Z8.8a described on the link above, except is has a solid-black faceplate and no SRC or format conversion. Here's the release notice from Harmony Central:
http://www.harmony-central.com/Newp/2002/OptiPatch.html
Bruce stil has the Hosa manual optical patchbay, but has had some mixed experiences with it. But I'll let him tell his own story, since he's also run afoul of the Midiman Digipatch eating his signals.... Me, I'm sticking with the Optipatch! I'll post a review of it here as soon as I get a few more hours on it...