Audio GD is supposed to be very good also but if we check spec the R2R ladder resistors in audio GD are 0,1% precision (DA M1 modules) but Ares has 0.01% resistors and the top Denafrips models even use 0,005% resistor ladders.The Ares gets some very good user reviews. But as noted at Head-Fi, the Ares uses many small capacitors in its design...
http://www.head-fi.org/t/833690/denafrips-ares-r2r-discrete-ladder-dac-close-up-view