what is the best, least costly DAC...?

I also considered the RDAC, ultimately I decided to go with the Audio GD NFB11. It utilizes the same ESS Sabre Reference 9018 chip used in many a high end DAC. Intro price on the Audio GD website is rediculous, also includes active pre-amp stage(defeatable)and headphone amp. If if turns out I don't like it there is a big demand for Audio GD products on headfi, their headphone amps are very well regarded. I also have the VDAC so I will be able to do a direct A/B comparison.

I tried the v-dac with better power supply and a matrix mini-i. I was surprised that in my system the matrix was a definite step up, ymmv

Once again...this is a highly subjective hobbie...and I have always found Rega CDPs to be kind of "grey" and void of colour...the polar opposite of their turntables in terms of PRAT, etc...in a nutshell...dull and boring!...cant comment on the v-dac but worth a shot for the price...

Phasecorrect,

Very interesting hobby indeed. I've not found that with Rega CDPs, but have found what you describe with Rega amplification, mainly the Mira and Brio (all generations). Have you heard their CDPs without their integrateds?

Have heard Rega amps on numerous times...and yes...they are a bit bland as well...