http://www.ariesceratespana.com/kassandra-websized/Kassandra-main-photo.jpg I would put forward my DAC on this list, the Aries Cerat Kassandra Ref II. A superb high end DAC, R2R, AD1865 chips (16 of them) superb gain stage with E280F tubes, transformers on the output. I have tried many DACs and this one is special, an end game for me. I have recently also ordered the Aries Cerat Genus SET integrated amplifier and set up my room as a demo room for Aries Cerat in España. I haven't been this excited about digital for a long time.
I have owned or had at home:
1. Pink Triange DeCapo with battery supply Remember this one? A classic and quite radical at the time.
2. Various Meridian DACs circa 1995
3. Various Naim DACs circa 2000
4. A Linn CD12 (borrowed for 4 weeks) (2014)
5. MSB Platinum inc Signature Powerbase (2016)
6. CH Precision C1 (2017)
7. Chord DAVE (2017)
8. Lampizator Golden Gate (2017)
9. Naim CD555 (used item - 2017)
10. Audio Note UK DAC 3.1 (2014)
11. Audio Note UK DAC 4.1 (2014)
12. Audio Note kits 4.1 heavily modded (2015)
13. Audio Note UK DAC 5 (2017)
All of these DACs did somethings extremely well, but fell short in other crucial areas. The C1 for example, initially I was super excited about this DAC, and had it for a full day in my system. But after 3 or 4 hours it began to unravel and I found certain types of music didn't sound good on it, particularly strings and female vocals.Others such as the Naim had great rhythm and drive but lacked soundstage and transparency. The DAVE had soundstage and transparency but lacked weight and realistic timbre. Others sounded too digital in the true sense, a coldness and lack of three dimensionality, boring even. The Audio Note kit 4.1 when modded was actually very good within it's envelope. In fact I have kept that DAC, partly as it is 'my creation' to an extent. But still not there....
Anyone wanting to hear it just PM me, you are more than welcome. I would pitch the Kassandra against any DAC, budget unrestricted.