Matt, hopefully you will end up coming across the Playback Designs Dream Series line. Andreas Koch has quite a resume and was involved in getting PS Audio's engineer into FPGA.
The Playback Designs MPS-5 (flagship SACD player) came to market about 10 years ago, but the firmware has been updated numerous times. Additionally, a fully upgraded MPS-5 includes an improved clock generator. I'm of the impression, and not my own personal observation, that the fully upgraded MPS-5 will beat the Merlot DAC. One wouldn't be reaching too far to believe that it may beat the latest DirectStream.
The Dream Series DAC will have MSRP $22,000. Matching SACD transport $15,000. Would be interesting to get your impressions compared with ultra hi-end units you've enjoyed!
The Playback Designs MPS-5 (flagship SACD player) came to market about 10 years ago, but the firmware has been updated numerous times. Additionally, a fully upgraded MPS-5 includes an improved clock generator. I'm of the impression, and not my own personal observation, that the fully upgraded MPS-5 will beat the Merlot DAC. One wouldn't be reaching too far to believe that it may beat the latest DirectStream.
The Dream Series DAC will have MSRP $22,000. Matching SACD transport $15,000. Would be interesting to get your impressions compared with ultra hi-end units you've enjoyed!