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
The Chord TT2 is really great DAC.  The Dave is better but the TT2 can go toe-to-toe with any other unit in the price range.  It is also a relatively new model.  It has a slightly brighter sound profile with filters that can soften it.  It also has the flexibility to have a big step up with the addition of an M-Scaler.  


I personally listen through a Benchmark Dac B and really like it. But since you are willing to spend up...It would seem that the Holo May Kitsune is the way to go today. Hard to argue with the high quality of the reviews it's getting....and the test bench results.
Audio Note DAC3.1x is available balanced. R2R NOS, tube rectification and output stage. DAC2.1x Signature is SE, but there is a new 2.1x balanced.
AN components are known for their realistic sonics.

There's an M3 up on USAM if you're leaning that direction. I thought about it, but ended up ordering the Holo May (but don't have it yet).