My personal take on a bottom line difference between the sound of the r2r approach, as implemented in the Holo May, and the Sabre dac chip, as implemented in the 005, was that neither was inherently superior. But my preference was the Sabre dac aproach which prioritizes resolution.
The Holo May sounded to me like it took a picture of reality and then added some embellishment as an artist might use charcoal to add depth to a sketch or adjust the light to make the scene softer or more appealing. The background blackness in the May was appealing but, to me, not particularly realistic. In contrast the 005 delivered, in my opinion ,something closer to true resolution based on how the music would most likely sound in real life. For instance you can often hear an ambient noise floor in a hall before the music even starts. That sound is truly natural and is my preference.
I think Sandu Vitalie of Soundnews agrees on the paramount importance of resolution. He calls it “Biggity Big deal” in his comparison of the Gustard with the Harmony.
He said this in his comparison of the Gustard X30 to the Harmony DAC on his web page review: I can’t differentiate it [Gustard X30] from my $18.000 Wavedream Signature or $14.000 Chord DAVE in terms of how much nuance there is. Is it as resolving, clean, and transparent? Yes! And this is a Biggity Big deal. In this regard, X30 pulls ahead and outperforms both the X26 PRO and the Harmony DAC and as much as I like the LAiV for its particular skill set, it’s in the last place when it comes to resolution.