Don't you mean I2C? not the same as I2S that is used internally to the DAC over a few cm of wire/track. The AES3 / SPDIF data transmission rate is 64x whatever the sampling Fq is so 64x 44.1 = approx 2.8Mbs or 2.8Mhz - more or less as it dosen't quite work out like this in practice due to the biphase coding used.
As for Toslink sound quality all I can say is its not that it is optical as such but the way it's implemented with low cost tx and rx and cables with poor refractive capability.