I think you'd be better aiming for a reclocking DAC such as the benchmark. You get state of the art reclocking and a state of the art DAC. Used they run about $700, which is not too far above your budget for DAC and DIP.
My own setup is a Monarchy DIP classic feeding a Monarchy 22A DAC, and I'm very pleased with the sound. The combo comes in at around $450 used. It is pretty much comparable with my Rega P3/goldring 1042, if that gives you any indication, and not far behind the Benchmark DAC.
Monarchy DACs are somewhat out of fashion, but, having removed the lid from mine it seems like a very solid design with top quality components (like PCM63K DACs) that used to sell for $1000. You can pick them up now for $200-$300. However they are sensitive to jitter and benefit greatly from the addition of the DIP.
My own setup is a Monarchy DIP classic feeding a Monarchy 22A DAC, and I'm very pleased with the sound. The combo comes in at around $450 used. It is pretty much comparable with my Rega P3/goldring 1042, if that gives you any indication, and not far behind the Benchmark DAC.
Monarchy DACs are somewhat out of fashion, but, having removed the lid from mine it seems like a very solid design with top quality components (like PCM63K DACs) that used to sell for $1000. You can pick them up now for $200-$300. However they are sensitive to jitter and benefit greatly from the addition of the DIP.