Best Inexpensive DAC

The fact that Cal Audio is out of business, you can get a great deal on an Alpha DAC. There are two versions, the newer is the 24/96 version. Both are excellent with some saying the original version is better. I owned one. This DAC will get tubes into you system and just makes digital sound right. I've seen them here on Audiogon for around $500-$600 bucks. Good Luck with your search.

Great Northern Sound repairs and mods the CAL Alpha.

Right-on Stereomaniac, Cal Alpha, Steve's da man.

Here's another vote for Cal Alpha. If you're really broke
look for a Cal Sigma.

Both units respond well to upgraded parts, PCs and tubes. Their not pretty to look at, but the build quality is excellent.

I had a CAL Alpha and after I got over the liquid highs and great soundstage I began to realize that it just isn't very dynamic or involving. I'm currently a fan of Meridian DACs--a used 563 is now a budget piece and also lets you switch between four digital inputs. Much more involving than the CAL. I heard a heavily modded Perp Tech and I thought it was bloodless. You can go nuts trying to find a budget DAC which has it all but I concur with the Bel Canto and benchmark recommendations at a slightly higher price point. I'm intrigued by the raves the Scott Nixon pieces have garnered.