Old vs New Dacs - Best Bang for buck???


How much better are the newer Dacs compared to the better ones from years ago? Has anyone compared?
I am looking to replace my CD player(Esound - which sounds very good to my trained ears) with a DAC. Looking to stay under $500.
I have read that the older 20 bit DACs like Parasound 1100, Adcom 700, Sonic Frontiers and Assemblage Dacs which sell in the $200+ range compare to some current DACs upwards of $1K.
How would they compare to the current better dac like MF V-dac, PS Audio Link Dac, etc?
Thanks!

jeffjazz
Check out the MHDT DAC's. Lots of info here about them. I tried some of the other reasonably priced DACs and in my system, the MHDT just sounded more "musical" than any other. I've stuck with it for quite a while and would probably only get rid of the Paradisea+ that I have to upgrade to a Havana someday... Now, if I could just convice them to put the input control switch on the front! :)
Try the TADAC 24/96 tube DAC Vert Sweet analog sounding. One can be had for your price renge on A-gon
MHDT Labs DAC's are the best I have heard in that price range. Actually, they have been some of the best I have heard period.
There have been so many advances in chip design since the early days of digital, that it doesn't make sense to hunt for a vintage DAC, in my opinion.

Can you clarify what kind of sound you're looking for? Detailed? Smooth? The PS Audio Link is more of a detailed sound. I haven't heard the V-dac, but it gets a lot of praise in the budget category. The Paradisea sounds wonderful. Very smooth and natural with plenty of drive and punch. I wouldn't call it detailed, but it's not grossly lacking.

There are so many new DACs out there. It would be great to see someone do a shootout.