Recommendation for DAC needed.

@nthuerk 
 
So every DAC except Schiit’s MultiBit sounds like ass, sure. Schiit only recently got AP gear to actually test their performance while designing, and notice how they made the Modi 3 and not another MultiBit DAC. MultiBit is snake oil. 
 
@rbstehno 
 
PS Audio is good, but similar/worse than Benchmark, absolutely not better if you did a blind listening test.

PS Directstream DACs are being heavilly discounted right now through a number of dealers for $4000 & less. Best pricing I've found is at High Performance Audio in Hollywood, Florida. They not only sound amazing, but they are upgradeable with new software & firmware for free. They just released Snomass which is a marked improvement over the last version. It sounds great in my system & I don't  even need a preamp now, as the Directstream fills that bill too. 

@stevehardy1 
 
Paul McGowan still recommends preamps, so...

The PS Audio Directstream with Snowmass is thinner sounding in the lower mid range than the Benchmark DAC 3. Directstream is also less forward sounding and yields less of a wall of sound and consequently more soundstage depth. Benchmark DACs can be a little forward or aggressive sounding, especially in the lower mid range (think chesty vocals for males).

Both DACs have comparable detail and resolution but the Benchmark is more raw and lively (front row) while the PS Audio is more refined (think row 5-10) The detail and liveliness of the DAC 3 can be exciting and exhilarating but also at times distracting. The politeness of the PS Audio Directstream is enjoyable as recording artifacts are less emphasized but on some recordings it can seem a wee bit reserved at times.

Both are excellent sounding. Bass quality is equivalent and excellent. Treble is smooth and analog like. Benchmark is like a microscope on the recording and you notice more often that you are indeed listening to a recording - warts and all. PS Audio Directstream is more laid back or “musical” but without losing any detail.

The difference may be down to the very different output stage. Benchmark is active op amp while PS Audio is a transformer output. The active op amp of Benchmark is very powerful and dynamic - transients stand out. The transformer output in the PS Audio Directstream may be the key to its smoothness.

Take your pick. Both are excellent. Either could float your boat.

I prefer a good preamp even if the Benchmark has a built-in analog preamp and despite ridiculous claims that the PS Audio Directstream doesn’t need an analog pre-amp. (Digital volume control is rather limited in range before performance suffers severely due to SNR and linearity)

@shadorne 
 
Digital volume control is only an issue with 16Bit DACs, 24Bit should be not audibly difference than analog volume controls, and for sure 32Bit.