$5K DAC OPTIONS

The Denafrips terminator2 is $4600 exceptional if you want excellent detail a very natural 

analog type sound and very big soundstage with a deep front to back image depth 

I bought one now looking to upgrade to the $2k more Terminator +, to someit maynot be worth the extra $2k. But if you want that last few % in low level detail 

and just a bit better then it’s worth it but-the T-2 is a bit more analog when streaming even lesser quality music sounds very good .

You have a lot of Simaudio. Have you considered the 280D? Nice streaming DAC. A little below your budget at $4k. I picked one up earlier this summer and really like it a lot. 

I would at least try the new Gustard R26 discrete R2R. Much cheaper, looks very promising.

@lordrootman, whatever you do make sure to demo as many DACs as you can, preferably at home, before making any decision. Some folks don’t mind switching between components as their tastes and budgets change. It’s a hobby so you might as well have some fun. But I try to limit the number of $5,000 mistakes I make in a day if I can help it. 
 

  I’m going to recommend the DAC that is in my system, because out of all the different DACs that I listened to the Chord Hugo TT2 sounded the best to my brain using the headphones and speakers that I have at home. 

Don't over look the Sonnet Morpheus.

$3200 proprietary R2R DAC from Cees Reutenburg also of Metrum Acoustics.

He's using a less expensive case then the Metrum DACs  but uses his 3rd generation R2R boards with the option to use the defeatable built in volume control. Also has an MQA board available for purchase. Sounds like a next level Metrum Adagio at a more affordable price.