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
You might consider the DAC's from Simaudio. Great reviews, and my personal experience with their products has been very positive. 
Right now I am listening to  a RME ADI2 dac fs and an PS Audio DStream latest model with Windom program. Lot of good features on the PS, but also on the RME. Great bass on the RME, very good sound stage. I stream only thru a Blusound. Rest of the year is  new ARC LS28SE, Parasound A21+, GE Triton Reference. I really can't see keeping the PS for the 5k difference.
Dagogo just came out with a review of the DAC III. It matches my impressions of my DAC II Special which hopefully, within a month, will be swapped out for an incoming DAC III Balanced. It should be noted that the balanced version doubles the price from 6K to 12K. Also, am much as I impressed by the product, I will warn prospective buyers that they need to be patient. Each time I have ordered, the estimated delivery time has doubled. Expect 2-3 months. Slawa personally sound-tests each and every unit before it leaves his doors and if he hears anything amiss, it gets held back for further adjustment. These are the opposite of mass produced products-they are assembled by hand and constantly evolving. That will surely draw some flack from those of you out there who judge-and if you find this lack of consistency a turn-off, SW1X is not for you. Unless you were to listen to music with one.....
Thanks @facten for posting the review of the B4B.  I hope the reviewer got it right because what he described is what I hear from the Mystique V3 and exactly why I ordered a B4B:
It sounds organic. It sounds Natural. It sounds like music. The detail and resolution are all there, but never highlighted or overt. Pace and rhythm, toe-tapping yes oh yes. High-frequency extension and low-end oomph? You betcha! How about stage depth, image density and localization, and overall presence? Consider yourself chillin' in the jazz hall, dressed to the nines at the Symphony, or stoned out of your mind from second-hand smoke at the stadium. The DAC belies reviewing because as a digital source, it just doesn't sound digital. Every time I sat down with my notepad to take notes and critically analyze the damn thing, I just ended up listening to music.