DAC Choices - $5,000 to $7,000


What are the current top DAC choices in the approximately $5-$7K price range (new or used) that I should look at as possible upgrades to my current Metrum Adagio?  Having an on-board volume control is not a factor as I can operate my system either way.   If I wanted to spend more I would look at Totaldac, Rockna Wavedream Signature, or one of the other top-end contenders, but I selected the price range to achieve a sound quality that is consistent with the rest of my system and because I don't want to spend more due to the still evolving nature of digital technology.  I do like the more natural sound (to my ears) of NOS R2R DACs.  So far, I have considered the three below, but none seem to be a slam-dunk upgrade from the Adagio, which still sounds pretty good in my system.  The decision is complicated by having to "buy to try" so that I can hear one in my system.  Maybe now is not the time for an upgrade.  Any thoughts?

  • Denafrips Terminator w/DSP board - Reportedly has the full body/dense tone type of sound I like, but also has a high'ish output impedance 
  • Holo May KTE - Reportedly measures great for an R2R DAC and has strong reviews 
  • Rockna Wavelight - Some reviewers like it but others put it in the middle of the pack for the price
mitch2
@yyzsantabarbara - Thanks for the AudioByte recommendation but the DAC ship has sailed for me, at least for now.  I sold my Metrum Adagio and like  @ddafoe, I am currently enjoying the Mojo Mystique V3 Balanced.  I actually like it so much that I will (hopefully soon) be receiving a new Mojo EVO B4B DAC.  Benjamin at Mojo is helpful with trade-ins so I can keep the V3 until I receive and try out my new EVO. 

At the same time as I await my new EVO DAC, Steve McCormack is building me an SMc Audio UltraDAC G (or whatever he will call the highest level he can do with the McCormack DAC-1), which will include the new board they have made for the McCormack DAC-1 and also their Gravity Base.  The UltraDAC will be limited to Redbook resolution but some folks believe it sounds outstanding within that limitation.  Since probably 95% of what I listen to is Redbook quality, and since I trust the results of  Steve's work, I will keep an open mind.  It doesn't hurt that I need two DACs so I can keep both. 

@dsper - FYI, no need to rebuild anything as the Mojo Mystique V3 Balanced also has single-ended inputs - and so does their new EVO DAC.  I run my gear balanced so I have not tried the single-ended inputs but you could maybe take a look at the reviews and whether any of the reviewers tried it through the single-ended inputs.  You could always contact Benjamin and ask his opinion as to the sonic differences between using the balanced and single-ended inputs.  He is quite responsive to questions.
I have the EVO and use RCA SPDIF connection, very musical to my ears. Whether or not the balanced connection sounds even better I can not say , but from my experience the single ended connection is very satisfying
For people still shopping, another contender seems to be the Sw1x dacs. R2R with tube output stages. I've seen nothing but praise. I think that's the next one I'll try (either the III or IV).
@facten  - Thanks for the tip on EVO inputs. I had previously been using the Metrum Ambre as a Roon endpoint and I can output either RCA SPDIF or AES/EBU from that. I can also use USB directly from my Antipodes DX, which is how I am listening to the Mystique V3.  With the Adagio, I liked either the I2S or the AES/EBU.  With the gear I have here I can try all three of those input options with the EVO, so it will be interesting. 

@cal3713 - the Sw1x DACs look interesting and remind me a little of Audio Note.