DAC Recommendations

I have a large collection of DAT tapes and have been using a PS Audio Ultralink 11/HDCD as a outboard DAC and looking to upgrade. My CDP is a Mephisto 11.X but doesn't have a digital input. I am looking at the newer upsampling DAC, Benchmark, Musical Fidelity and others. Any suggestions? My price range is 1500.00 new or used. Any help is appreciated.
Museatex Bitstream or Bidat DAC's. I saw one on audiogon for as low as $350. The bidat's where once cheap when everybody was upgrading, suddenly everybody is trying in vain to get them back, one sold a while ago for $3k...send it to John Wright of museatex get it modded, for about $700...black gate caps, IEC plugs, upgraded power supply etc etc...it's hilarious how older Meitner Designed gear sounds so good today, that guy was waaaaaaaaaaay ahead of everybody.
Audio Note DACs are an excellent used value and sound very, very good. The best values are the lower end products although some of the level 3 units have come up for reasonable (I use that term loosely) prices. I use an original DAC 1 Signature and it works very well for 48khz and 44.1khz DATs as well as CDs.

I would look for a 1.x Signature or a 2x or 2x signature. For less money the Cal Audio Labs Alpha and Sigma DACS are excellent values and also have tubed output stages. There is a modified Alpha (overpriced in my opinion but what do I know?) for sale right now that sounds very good. The owner likes it a lot based on the asking price!
My pick,'cause I own one, is the Enkainthus. Same co. I just think they don't think folks have more than one digital sourse--I do.---Sure the 'one-box' solution is great but has no flexability.
Thank you all for the recommendations, I thought I would update. I purchased an Electrocompanient ECD 1 demo in my price range. It's a very muscial piece, the sound is a little forward but very detailed with extended bass. It came very close to the Audiomeca Mephisto in many respects but the Audiomeca still out performs, at least in my system.Thanks again.
Rec, When you describe the ECD as being a little forward do you mean somewhat bright or do you mean that there is some mid-range emphasis which brings the soundstage more forward as opposed to recessed or normal?
Great description Newbee, no it's not bright at all but there is some mid-range emphasis. Actually in my system it's quite pleasing.
The Musical Fidelity A3 24 isn't bad sounding and you can pick 'em up for under $600 used. I've had one for a year and it sounds good. Try a good digital cable with the money you have left over. Some of our local audio group are using digital cables from Ridge Street with good results.
If you must spend more on a DAC, then the Audio Note seems like a good recommendation.

For a little more, I love the Reimyo DAP-777. I paid $2300 for a demo that I think is the best money I have spent on my system.
I bought a near mint McCormack DAC Deluxe for $285 on Ebay (the upgrade alone from the standard DAC to the Deluxe is $250!!) and use a Sonicwave 280 strand glass toslink ($23 from Buy.com) with my old 5 disc sony CDP 75es player. WOW!!!! I hear things in CDs I know well that I never heard before; much better sound stage, smoother highs, new bass authority,increased dynamics, proper harmonics and decay of notes. For a total of $340 including the Deluxe McCormack DAC, glass toslink interconnect and shipping it is a bargain you can live with and easily improves the sound of multidisc redbook cd players. I think you will have to spend a lot more to improve on this combination. The service department at McCormack was extremely helpful and even sent me an owner's manual at their expense. Great people to deal with. I'm more than satisfied and I'm not easy to please.