Best route to go for new dac?

I agree that a DAC is much more than a chip. Because sound can vary, you really have to listen for yourself. Hardly original advice, but it's true.

The Topping D90 is well within your price range, it measures to perfection, and user reviews I've seen have been glowing. Apos Audio will let you return it within 30 days if you don't like it. The D90 would be the first thing I'd try.

Have fun!

The Denafrips Ares II is a chipless ladder DAC that is well reviewed. A/B it alongside the chip-based D90 others here mentioned to determine which sound signature you prefer. Either way you cant go wrong IMHO.

I bought a Topping D90 after reading glowing reviews and close to perfect measurements. Tried to live with it for almost 4-5 weeks, but it didn't connect with me emotionally. I sold it to a friend of mine who absolutely loves the DAC ... he has had many low-to-mid-fi DACs and prefers the Topping by a wide margin. Truth be told, it actually sounds amazing in his system.

The moral of the story is that there is just no way you can know for sure whether you would like a DAC or not until you hear it in your own system, regardless of what the measurements are telling you.

My experience with Topping D90 was the same as another person here. It’s very nice “for the price”. I’m in love with Schitt Modius. For 200 bucks it’s a complete steal, livens up the music. My source is a simple Mac Mini. Love it and can’t recommend it highly enough. 

Edit...."The Best SINAD #s"....Did not mean to say "Lowest".  Higher is actually preferred.