Snopro, you are not correct on the Forumla vs the Terminator.
The Formula was recently updated with new technology and Sarjan was running the original Formula.
When Six Moons reviewed the Terminator vs the Formula this was the original Optologic board and not the newer XHD version which dramatically raises the level of the Forumla to nearly the best available changes include:
• Proprietary hybrid 2-stage XMOS xCore XE216 FPGA • Fully-floating (isolated) USB decoding and clock generation by FPGA with proprietary code • High quality, long life, low noise parts and modular design that distinguish aqua – acoustic quality equipment • Sample rate in “Bit Perfect” up to 768 kHz PCM and quad rate DSD (DSD256) • Latest version of customised XMOS X Core Driver on Windows OS (W7, W10) • Native X Core Audio on Mac OS (Bit Perfect) • USB Audio 2.0 operation on Linux (Bit Perfect)
This update has required significant optimisation of code for the main FPGA of R2R ladder DAC which has improved sound quality.
The new hybrid USB XMOS xCore 200 (dual core) FPGA circuitry enables the high-resolution file playback up to 768kHz PCM and up to DSD256 (Quad DSD)
One point that is being ommitted is long term design viability, the Aqua is comptely FPGA implimented and can easily morph into the lastet technolgy from a company that has been in business making award winning dacs for 8 years.
With that being said, we have both the Formula and the Davinci, the Davinci is in another league over the Formula and it is not even close we have the latest Formula Optologic XHD.
We are not denying the buzz on the Terminator, however, there was one review on the Terminator which wasn't so positive, the reviewer liked the dac but not a rave.
The T+A Dac 8 DSD especially when fed a DSD 512 signal sounds like most $10k plus dacs, and it costs $4.2k the Dac 8 uses totally different design concepts and isn't as an elaborately constructed piece but boy does it sound good.
So yes the Terminator is a very very good dac and it is priced very reasonably, state of the art not quite, great sound for the money probably.
The more interesting comparison will be the Davinci 2 Dual Dac vs the Lampy units.
Dave and Troy
Audio Doctor NJ