Rank the top reference DACs you've heard

And sorry I forgot to mention the hpa4 was obviously paired with the benchmark dac 3 so my comments really reference the performance of the dac 3. At the time I did not yet own the serene. Also the dealer speakers were alexx v.

If trying to cut costs I would recommend the may kte paired with holo audio red and serene, easily best value. If you can spend a little more, the bartok apex is where I would go. The mola mola might end up a good in the middle compromise but having never heard it, that is only inference from the reviews of others.

My current ambition, which may be unrealistic given my room is not optimal even with acoustic treatment, is keeping the detail and tone I currently have but improving soundstage depth and imaging. The dealer room really opened my eyes as to how good these aspects can be.

I have spent a ton of time dialing in speaker position. I have demoed more speakers than I care to admit but the perlisten s7t are my locked endgame there. No other speaker has come close to my ears.  I would love any dac advice as far as improvement in those areas. But if was giving myself advice it would be hit the lottery and create a better room to house my chain.

After thoroughly comparing the Playback Design Dream and Kassandra DACs, I would rank the Kassandra as my top choice, with the Playback Design following closely behind. While both are exceptional DACs, the Kassandra stands out for its superior midrange fluidity and tonality, bringing voices and instruments to life in a way that is truly captivating.

+1 the EMM DA2v2 is definitely one. I’m an analog guy and this dac along with the MSB Select 2 makes me forget it’s digital. If you’re on a budget, the Meitner MA3 is also a very strong contender. 

@jamegla I have some of the gear you are talking about. The Serene and HPA4 are sonically very similar, contrary to some posts online saying that the Serene kills the HPA4. Love both of these preamps (I have the LA4). The LA4/HPA4 has much more useful features. Great thing about these 2 preamps is that they will really let you hear the upstream components (such as a DAC) without editorializing the sound.

When I get a Playback Designs Dream DAC I will use 1 of these 2 preamps. I already have a PDB Plink based streamer.

BTW - Since you mentioned headphones, this Friday I am going to hear what some are saying maybe the world’s best headphone. The new RAAL 1995 Immanis (will also hear the Magna). I have the older RAAL models, which compete with the Focal Utopia and Susvara you mentioned. The new RAAL 1995 phones are said to be much better than what I have.

Today, I received a new headphone cable for the Serene preamp. Unfortunately, the old RAAL phones need more power than the Serene can deliver. The Immanis may work with the Serene and this new cable I got.

A great DAC is really important for headphones.