@astewart8944--two years ago in Feb of 17’ i did audition the original Formula dac in my system directly compared to the Lampizator GG 1.5 and the Nagra HD and preferred the Formula for it’s greater space, lower noise, and more neutral and fast presentation. it just complimented my system better than those other two.
at that point i owned the GG1.5, and expected to buy the Nagra HD. but the Formula (one of the first to be imported into the North America), surprised me. i owned that Formula until that June, when i finally gave in to my ears and acquired the Select II.
i could easily live with that Formula dac and still consider it a ’giant-killer’ if a $14k list price dac can be considered a bargain. it did everything right to my ears and i found nothing that bothered me. coming from the GG1.5, and having the Nagra HD there too, the Formula stayed on the natural side of the neutrality line, but never sounded colored......or veiled.
i never did hear the Formula xHD version in my system. my understanding is that the xHD version is a bit less transparent, and more toward ’lush’. for my system, that might not be how i would like it. but i’m just speculating,