Looking at best option for 20-25k for DAC Streamer combo

I vote for the DCS Bartok.  At least in my system (D’Agostino integrated amp and Sabrina X speakers, the Bartok was more revealing and had a better soundstage than the usual suspects in this price point.

the optional headphone amp is good but doesn’t hold up to some of the freestanding options that are also available. IMHO

@kairosman I found the MSB DAC to be more natural sounding, had better separation between instruments and vocals as well as less fatiguing than the Lumin X1.  Only by a small margin, but enough for me to make a change.

Oh yes. I agree, also listen to the Linn Klimax DS Katalyst ($27K). It is a streamer / DAC and sounds amazing. I guess Linn really put a lot into R&D over the last decade. Their digital stuff sounds great.

Really like the natural sound of the Aqua Formula DAC (about$15,000), fed by an Innuos Zenith MK3 streamer (about $4,700 with 1TB). Roon capable. 1TB storage is 30% consumed by my loading about 5-600 CD's as WAV files. I'm not running the Innuos Phoenix clocker (probably my next purchase); however, the Innuos "Statement" (around $15,000) includes the clocker. This combo allows my DarTZeel LHC-208 integrated to really shine (using PMC Fact 12 speakers). I can only describe what I'm hearing as organic. Also, the Aqua DACs are upgradeable (before I purchased the Aqua Formula, I had an Aqua Voce S2, which I had upgraded to their S3 version). 

Not mentioned yet is the Cary DMS 800PV. It is a fantastic Streamer/DAC flagship piece. Great sound and fully balanced unit. Coming in at just under $12k at Carydirect.com