DAC shopping - Trying to sift through the Hype. Can I trust the reviews these days ??

S.M.S.L su-9pro or the su-s-ux are great dacs paired with the Gustard u18 usb interface using the l2S or hdmi connection 

You could also get a DDC (digital to digital converter) rather than a new DAC. The DDC can take the USB input and clean it up and reclock it and send it to your DAC via the AES/EBU input. I added a fairly inexpensive Denafrips Iris and felt that it added some clarity and bass to my system that I already thought was pretty good.

Also, the Denafrips Pontus is on the 15th generation so I'm not sure why you're looking at a Pontus II. The price is low and the Pontus 15th is essentially the same as the Venus 12th which is a DAC previously costing about $4,000 that you are getting for less than $2,000. Check out USAudioMart for deals on the DDC and DACs if you are interested and also Jay's Iyagi video on the Pontus 15th he put out this week. 

Finally, the question is whether you are looking for Delta Sigma or R2R stuff. You might also include the Holo Spring or a used May if you can find it. I've also been looking in this price territory and I'm finding some interesting lesser known stuff like the Audial DAC S5b which got a rave review from Elite Audio (YouTube) on 11-29-23. I haven't heard this DAC but the review(s) sound like I would like it and it has all the inputs you want including the i2s.  

I was reminded tonight how much a dac makes a difference! I’m using a Naim Nac 272 as preamp streamer. I moved my system upstairs and was using the Naim as a Dac. It sounded fine for the last few weeks but wasn’t really moving me and I wasn’t listening much. I moved my Musician Pegasus 2 upstairs and it’s just so much better. So much more meat in the bones and detailed. 
 

I have become a big R2R fan and I will say a lot of times the most expensive one may have better specs and does indeed sound slightly more refined but the cheaper model will often be punchier and more “fun” while still being plenty refined for my old rock lovin ass. As was the case with the Musician Aquarius which was a fabulous sounding dac but the Pegasus 2 is close in refinement and more punchy. YMMV. I will say both these dacs have made pretty much every damn thing sound great. Something I can’t say for any chip dac I’ve owned. 

As others have mentioned, LAIV has been having build quality issues lately. They are new, so might be going through growing pains, so buyer beware. Holo May and Cyan are "the" DACs every reviewer has loved. The Denafrips Pontus 15th is indeed (upon Jay Iyagi opening one up and looking) nearly a Venus in quality. So while Denafrips and other Chi-fi makers have been terribly guilty about making minor mods and changing the generation of a device, in this case, the 15th is worthy of "wow, getting a lot for your money".

I’m still on the fence regarding buying something from China and the aggravation of sending it back or trying to get in-warranty or out of warranty service done on them.

I’m sticking to DACs made in the U.S. or Europe because of that. I’m not sure my system is good enough to justify a $2000 DAC, so I’m considering Schiit Bifrost 2/64 or a refurbished PS Audio Gaincell DAC for about $1K.

In your budget you’d have many to choose from. If you can, buy via Amazon and be able to easily return it if it doesn’t meet your expectations.

Oh, and I get what Jason is saying, but DACs, even at the same rough price points do NOT all sound the same. The output stage and power supplies can vary considerably between DACs, hence different tonalities and different impressions of the leading edges, the bodies, and the decay of notes. Just wish we could go to the corner audio store and listen to many of these devices, but hey, the 1980s are long over. Rats.

And don’t overlook good sigma-delta or multibit DACs compared to R2R. They too can have "great soundstage and imaging and tonality" despite all the R2R hype via the YouTubers.

The Music Room might also be your friend for getting more bang for your buck too.

Finally, PS Audio is having that "Black Friday Refurb" sale and has a few preloved Directstream DAC MK1 for $1,599.00 USD. These are a few years old, but sold new for $6000. They have a recent firmware upgrade to the FPGA and many on here have commented they sounded great. 

@moonwatcher  and don’t overlook good sigma-delta or multibit DACs compared to R2R. I totally agree, which making a DAC upgrade that much harder... where do you start ?

Soo many options available. It's a bit overwhelming.