Case in point: I’ve owned several great SET and triode amps (Air Tight, VAC, and Woo) which have even been described as measuring “broken.” They sounded wonderful.
With digital, I tend to take the measurements more seriously, including total bit depth, channel separation, noise floor, and jitter. Strong results seem to correlate better with good sound in my experience, and poor results seem to correlate with colored sound. I’ve heard several DACs based on the classic Phillips chips and they tend to have a laid back, mellower sound that, while pleasing, is less dynamic and more colored sounding than modern chipsets, especially those using FPGA implementations.
Certainly the quality of the analog output stage will have a big impact, more so than the older DAC itself, in my experience, which is why my Musical Fidelity TriVista DAC, with its well regulated power supply and tubed output stage, still gives modern DACs a healthy run for the money despite using a now pedestrian TI1792 Chipset. I’m currently eyeing the Chord Qutest as a possible upgrade, and I am charmed by the sound and dynamics of the FPGA DACs I’ve heard. They measure really well too.
i am sure the older Phillips based DACs have their charms but giant killers? My gut tells me otherwise. You can only tweak and squeeze so much out of these older chip designs. I’d love to compare these in my own system but without the chance, I’ll probably focus on the newer technology.