Unlike @lordmelton who has a habit of going onto other DAC threads and crapping on those other DACs for the sake of sensationalizing the virtues of the 005, that is not my intention here. I think the 005 is a very fine DAC and worthy of its asking price. Like @melm said, there is no best DAC for everyone and to suggest that no one will ever return a 005 or have anything negative to say about it is simply unrealistic.
@debjit_g , I am currently in between DACs as the DAC I hope will be my new reference (which I will not discuss at this time) is still in prototype form but should be available later this year. I’m sure even that DAC will not be perfect. But until then, I am testing many DACs but this is nothing new as I have been perpetually testing DACs for years. While I do not own all of these DACs, I currently have in my possession a Chord DAVE, dCS Vivaldi, Esoteric N-01XD, Vinnie Rossi L2 DAC, and Weiss 501. I have a few other DACs that are incoming including the new Weiss 502-4CH which is an updated version of the 501/502 and just began production last month. Recently but now gone, I have also had here the iFi Pro iDSD Signature, Holo Spring 3 KTE with preamp, Holo May KTE, Terminator Plus, Gustard X26 Pro, SMSL VMV D1, and yes, the 005. Just before the pandemic hit, I also briefly auditioned the EMM Labs DV2, MSB Reference, and Gryphon Ethos. The 005 was purchased used from a fellow audiophile but he was kind enough to take it back when it was quickly realized it was a nonstarter.
As for the rest of my system, since @melm asked, I currently have a pair of Wilson Audio Alexia Series 2 speakers which will hopefully be upgraded to a pair of Alexx Vs later this year. They are being driven by a pair of Block Audio SE monoblocks from the Czech Republic. I have both a D’Agostino Momentum HD preamp (currently listed for sale here on Audiogon) as well as a Vinnie Rossi L2 Signature preamp with Takatuski 300Bs although I anticipate upgrading to the Vinnie Rossi Brama preamp soon. My music server is the SGM Extreme by Taiko Audio and my thoughts on this server are well documented on another thread. I consider this server to be foundational and it is the lowest latency server I have yet encountered but to fully realize the benefits of this low latency server, a DAC with a low latency USB receiver such as a 2nd generation XMOS receiver is required.
As stated, I think the 005 is a fine DAC. It is well-designed, engineered, executed, and measures well. It’s why I took the chance and bought one. The problem with the 005 for me is that it utilizes an Amanero USB receiver which uses a large buffer and is consequently very high latency. Unlike the newest generation XMOS receivers, Amanero has >20x latency resulting in a slower (less lively), more bloated, and smeared presentation. It’s not something you ever think is true unless you compare but the latency is so great that this DAC cannot take advantage of the Taiko ASIO USB driver in the SGM Extreme and, therefore, cannot take full advantage of the SGM Extreme. This Amanero receiver is utilized by other DACs such as the Chord DAVE and T+A DAC 8 DSD. It is one reason why the Chord DAVE is no longer my reference DAC in my main listening room and when I realized the 005 also uses Amanero, there was simply no way forward.
If I am to be honest, I preferred the iFi iDSD Pro Signature (when powered by a Paul Hynes SR7 power supply and paired with a Mutec REF10 SE 120 master clock) to the 005. I also preferred the Gustard X26 Pro (when paired with the Mutec master clock) to the 005. Part of the reason is due to the uplift in performance from the expensive Mutec master clock but a bigger part is due to the fact that these DACs utilize the latest generation XMOS USB receivers and can take full advantage of the Taiko USB driver. With it’s supercap-based power supply, the 005 sounds plenty dynamic but sounds slower and more smeared around the edges but this is not something you realize unless you’re using a low latency server.
Where the iFi, Gustard and yes, the 005 could be better is in tonal refinement. These DACs measure extremely well (all DACs do these days) and yet they all sound different and it probably comes down mostly to the virtues of the analog output stage. As a pianist, I am very sensitive to a system’s tonal reproduction of a piano. Not just timbre and texture but also density and weight. While I have yet to hear any system faithfully reproduce the tonal qualities of my piano, these DACs don’t compete with DACs like the MSB Reference, dCS Vivaldi, or Weiss 501. In my system, even the May performed a bit better than the 005 in this regard.
But if you love your 005, that’s all that matters. Maybe my ears and my system aren’t as good as yours and so feel free to ignore everything I’ve just said. I’m pretty certain @lordmelton will. My preference for a DAC might be different if I didn’t own the SGM Extreme or if I owned Magico speakers or Boulder amps. I apologize for the lengthy reply to your questions but now I’ve said everything I have to say and so I won’t be responding further. Simply too busy. Best wishes.