the input to Analog out..
Pages 6 and 7 of the AD667 datasheet explain that the CS\ and Ax\ signals are
LEVEL TRIGGERED. The Truth table II on page 7 shows that when A3~0\ and CS\ are
0 then the latches are transparent, therefore any digital value on the inputs
will be asynchronously reflected at the analog output. So you are right, the
DAC output continuously reflects the data that is present at the input.