Help choosing a DAC

@marco1 Thank you for your response, I do remember reding about the Merlin's about 10 or more years ago. Are they really as good as all the reviews suggested? I would love to terminate with the terminator, but unfortunately the road for me ends at Venus. I am leaning the Venus way as well, but just not sure if my system is high end enough for the big step up that Venus provides from Pontus. Most of the reviewers mention that before you go up the chain in the Denaphrips line to first upgrade other components to match the step up in performance. I am not sure if I will do this with my system as I am very happy where I am. Hence the Q.

It's a sleeper and a keeper..... great preamp.  

This is a nice summary of the Denafrips lineup

I have the Pontus II and Hermes DDC. It’s a great combination. The Hermes lowered the noise floor and opened up the soundstage, improved imaging and transients etc. It has an I2S connection too which is nice. $2500 would get you that combo used. Not having heard the Venus I would still hazard a guess that my setup is close to its level, although it likely sounds different. There are also other R2R DACs out there that folks seem to like such as the Gustard R26 or the HoloAudio May. If I were to replace what I have it would likely be with the Terminator or something similar. However, I am more than happy with my setup and plan on enjoying it for a very long time.

 @oddiofyl "My problem with Denafrips is there is no return policy.     What is your budget ?   Maybe consider used ,   check out TMR in Colorado.  They have a good return policy."  

+1 

Gotta say overall, with only one minor exception over the past 4-5 years, I've had good interaction and transactions with TMR Audio.  They helped me move some gear more than a few times - so I could try new stuff, at reasonable prices, and the return policy was there if I needed it.  They have learned and evolved, with increasing inventory supply over time.    

I had a CJ cav45 S2 with the Pontus and borrowed a Venus and I can relate to Vishines thoughts between the two. I think the Pontus has the relaxed character of the CJ. Venus is just a little different. If you are trying to branch out from CJ sound Venus may be the one. If you get the Pontus get the Iris or the Hermès. It’s a must have for me. I does clean up the Pontus but in a good way.