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
this is why it is so important to hear stuff for yourself. Although you and a couple of reviewers indicate the Morpheus may have a touch more meat on the bones than the Adagio or Pavane, I have spoken with several others who have indicated they hear very little if any difference between the Morpheus and the Adagio. I have heard from a couple of people, and from Granny's post below, that the Morpheus is thin sounding, and from one industry insider who recommends using a preamp or buffer with either the Morpheus or the two top Metrum DACs.
My personal finding with both the Pavane and Adagio (both of which I have owned) is that they have good tone and detail but need a preamp or buffer to achieve the level of body I enjoy. I am hoping to find something with a similar level of tone, detail, and naturalness, but with a bit more body and weight. It seems the Bricasti M3, Holo May KTE, and Mojo Mystique may provide this and also possibly the Rockna Wavelight and Terminator.  

@mitch2 
I also own Adagio since 2018 and used to follow your posts. Initially, i also found its sound to be a little dull and thin. Then after a year, I got hold of EAR868 tube amp and now the sound has become more full-bodied and a little more transparent. Maybe you need to consider changing/adding a tube preamp even for a few days to see if there is any change in the sound.
I highly doubt if any other DAC can give you better sound in an almost similar price range.
Sorry @rsjaurr but have you seen mitch2's system page? He has one of the finest pres I've ever heard the SMc only wish I could afford one. That's not the issue in this particular case IMO.
Sorry @rsjaurr but have you seen mitch2's system page? He has one of the finest pres I've ever heard the SMc only wish I could afford one. That's not the issue in this particular case IMO.


Yeah I know about his preamp. He can borrow a different pre and try it. Just my two cents. 
mitch2,
Try to give the Sonnet Morpheus a listen.
You may like it and it comes in far below your stated price range.
@rsjaurr
One thing you said rings true for me and makes me reconsider my goals:
I highly doubt if any other DAC can give you better sound in an almost similar price range.
I am starting to wonder whether buying something else will only show me how good I have it currently with the Adagio. I want to stay with R2R so the Holo May KTE and the Mystique will stay on my list of DACs to satisfy my curiosity, and of course I would jump at a good deal on a used Totaldac.

However, another consideration is the specific implementation. When I read about people who say so and so DAC is better than another DAC, I wonder about their implementation. For example, the USB input and RCA outputs on the Adagio/Pavane are not supposed to sound as good as the I2S input and balanced outputs (both of which I use). The rest of my digital chain (Ethernet/Bonn switch/TP Link Fiber Optic converters/Ethernet into the DX/Ethernet into the Metrum Ambre/I2S into the Adagio/then balanced outputs) should optimize the sound of the Adagio.

Regarding preamps, I have owned the Lamm LL2 Deluxe, NAT Symetrical, CAT Ultimate MkII, and other pretty good tubed linestages, and none of those gave me as much satisfaction as my current SMc preamp. Thank you for the reminder that the Adagio is a pretty good DAC.