The order of the difference is infinite; this means that for any signal of the finite bandwidth the direct application of the PWM will produce the nonzero amount of the distortion products falling into the band of the original signal. How much will be the distortion is a different question; it depends on the particular case. Of course, we can derive the spectrum of the PWM output, however the math is rather complicated and it is not possible to get the solution in the closed form but for the simplest case of a sine wave input.
[...]I see. Very elegant solution.
VLV