Holo MAY KTE DAC/ Kitsune Hi FI, Lynnwood Washington

I would chime in on what @big_greg said. I also own a MHDT Labs Orchid R2R DAC. I had upgrades done to it by grannyring. Total invested in the DAC is about $1500.

Here's something to consider. I did an extended shootout on a very high quality and sensitive system with the Holo May vs. Orchid. Holo May has somewhat smoother highs, more  presence in bass and midrange, and a wider, more articulate soundstage. But not by much. Maybe 5-10%.  And this was in a very resolving system.

My host also had a Holo Spring 3 DAC. In his view, it gets "90% of the way" to the Holo May. So, personally, if I felt the urge to upgrade past my $1500 modded out Orchid, the Holo Spring might be the way to go. It would help hedge the risk factor of repair -- though it seems that Tim at Kitsune is already providing that hedge.

Oh, and I have heard MHDT's Jiun is very good to deal with.

In a nutshell, you've got good options, and I think the risk is a bit less than perhaps you are supposing. My two cents.

Hopefully not getting off topic, but I would also add that if you're looking for a "natural" (less "digital"?) sounding DAC to include FPGA technology in your search.  I still have my Orchid in a second system, but replaced it in my main system with an Aqua La Voce S3 FPGA DAC.  The FPGA DACs are nice because most can be upgraded with new firmware and/or boards in the future.  As far as sound quality, the Aqua is a major improvement over the Orchid in terms of detail, but also in another price category.

I’ve owned Terminator v1, heard Terminator + during audio show, tested MHDT Labs Orchid (seller brought it to my house and demoed tube rolling), and now own Holo Audio May L3 KTE bought directly from HK. I also have Marantz SA-10 SACD player purchased years ago which I use as USB DAC until Holo May arrived 2 weeks ago (still breaking in).

Firstly, the MHDT Orchid was highly overrated, especially in this forum. It’s not in the same class as discrete R2R DACs or FCPGA-based DAC like the SA-10 I have.

Please read Stereophile’s comments about Terminator + versus Holo Audio Spring 3, which is the model below Holo May:

https://www.stereophile.com/content/gramophone-dreams-60-denafrips-terminator-plus-denafrips-gaia-holoaudio-spring-3-page-2

Holo May is really a good DAC, especially when using USB input. It demands a very good digital source to shine. Even though Holo May includes USB galvanic isolation, when using music server with USB galvanic isolation at the music server side, the sound is better. USB cable used also matters.

A person who owns all Esoteric digital gears (streamer, DAC, external clock) heard my system and said the Holo May is a damn good DAC. Holo May will stay in my system as the reference DAC for a long time.

To ops question about warranty, if the unit failed to work, yes I have to send it back to HK.

@anwar 

the MHDT Orchid was highly overrated, especially in this forum.

Can you say a bit more about how it was overrated? 

@audioman58 You mention the Terminator has oversized power supply and has better bass than the Holo May? It made me laugh considering the Holo May has an entire shelf dedicated for a power supply also. I'm pretty sure its also way oversized for a DAC.