Best DAC for under $500


I'm looking for a DAC with good transparency and dynamics. Is there a DAC with good bang for the buck in this price range that would offer a substantial improvement over a $1,000 CDP?
I've considered EAD DSP 7000 MK III and Audio Alchemy DDI pro but concerned about repairs.
So two other options are dAck $399 and the CI Audio VDA-1 $349
cdc
I'll third the EVS Millennium DAC. Top notch parts quality and implementation at a ridiculously low price. Transparency and dynamics in spades. Disclaimer: I've got one but won't sell it, so this isn't self-serving at all. Best of luck.
The Ack dAck is an extremely musical DAC that belies it's low price. Mine transformed my system with an utterly intoxicating sound. CD's sound so good I need to upgrade my vinyl rig to get it to catch up. All the good things you've read on this unit in AA are true. It's the one to beat.
Viggen, I've got a Marantz CDR-500. Uses the Philips VAM 12.5 mechanism. Same as the $3,000 Cary 303/100.