How easily can you distinguish between different DACs?

If preamps sound different, why would DACs not sound different? Arguably, there are more factors influencing the sound of a DAC than a preamp.

I don't hear vast differences between modern dacs, except for the ones that won't reliably lock on to my digital source. I'm very sensitive to the music randomly cutting out. 

Speaking of Corolla Ferrari comparisons, I think what has to be kept in mind is that when you take a cheap and expensive dac "out on the track" you find out that the Corolla dac with it's cheap tires and regular gas is keeping up with the fully decked out Ferrari dac with it's premium fuel and tires just fine. So the difference would be that the cornering somehow just feels better in the Ferrari and so is a more enjoyable experience that justifies the cost. On the test bench, these cheap dacs are performing brilliantly.

@audiodwebe 

yup, you got the answer - try in own audio chain to see if you “subjectively” like the change. Audio chains, power, rooms, and especially preferences are so unique that it’s best to try in your own audio chain.

DACs use similar standardized chip sets. So the differences will be in the analog conversion, which in theory is also a standardized algorithm. However, some manufacturers don't follow the standardization and do their own inaccurate conversions. According to the book Schitt Happened, Schitt used to program their analog conversion by ear. In effect, turning their DAC into an immutable tone control, which IMO is definitely not the purpose of a DAC.

Having been a programmer who has written conversions in other areas, I understand that there isn't anything magic about it. It's either as accurate as the standardized algorithm allows it to be or it's inaccurate. Which means you shouldn't hear a difference between properly programmed DACs.