DAC Choices - $5,000 to $7,000


What are the current top DAC choices in the approximately $5-$7K price range (new or used) that I should look at as possible upgrades to my current Metrum Adagio?  Having an on-board volume control is not a factor as I can operate my system either way.   If I wanted to spend more I would look at Totaldac, Rockna Wavedream Signature, or one of the other top-end contenders, but I selected the price range to achieve a sound quality that is consistent with the rest of my system and because I don't want to spend more due to the still evolving nature of digital technology.  I do like the more natural sound (to my ears) of NOS R2R DACs.  So far, I have considered the three below, but none seem to be a slam-dunk upgrade from the Adagio, which still sounds pretty good in my system.  The decision is complicated by having to "buy to try" so that I can hear one in my system.  Maybe now is not the time for an upgrade.  Any thoughts?

  • Denafrips Terminator w/DSP board - Reportedly has the full body/dense tone type of sound I like, but also has a high'ish output impedance 
  • Holo May KTE - Reportedly measures great for an R2R DAC and has strong reviews 
  • Rockna Wavelight - Some reviewers like it but others put it in the middle of the pack for the price
mitch2
I can highly recommend the Lampizator Atlantic TRP that I use which falls into your price range.  Very natural sound and a ton of flexibility to dial in your tonal preferences with tube rolling.
I know several people who have the Chord Hugo TT2 in excellent systems, and really like it. Combined with their M-Scaler upsampler, it’s supposed to be amazing but that doubles the cost to over $10k.

I would be very interested if I had the dough, because it can work as a preamp too and has a brilliant headphone stage.

The Denafrips intrigue me too.

http://www.theabsolutesound.com/articles/chord-electronics-hugo-tt-2-dacpreampheadphone-amp-and-hugo-m-scaler/


I have heard a higher end Lampizator DAC.  It is very organic and romantic sounding.  Maybe not totally accurate or realistic, but extremely pleasing to listen to.

Another R2R candidate you may want to look into is the Audio-GD  R-7 ($2668 USD).  Or even the R-7HE with regenerative power supply ($3499 USD).  But maybe these are too low priced for your target.
Thanks so far.  I have owned a Lampizator L4 G4 (I believe that was the number) and it was ok but the soundstage seemed larger than believable at the expense of resolution and dynamics, particularly in the bass which was big (somewhat bloated) and was not particularly hard-hitting.  I know they have improved since then but I have trouble identifying the differences between their many choices and I don't particularly like how they keep changing the lineup.  In addition,  I run my system fully balanced and most Lampis have single-ended outputs (which I can accommodate) and they also use a USB input, which I cannot accommodate from my Metrum Ambre endpoint.  I would have to go back to something like the SOtM SPS200 Ultra I used to own.  In any event, I appreciate the recommendation and will take a look since many people seem to like their DACs.
I have not really considered Chord.  I guess I heard the Dave was the model to own, which I could probably swing if I purchased used.