designsfx - I built an Audio Note Kit L4 Limited Edition DAC several years ago when the kit business was still affiliated with Audio Note UK. The circuit is Audio Note and so are most of the parts. Over the past 7 or 8 years I’ve upgraded most of it, and now I even have some parts from a recent DAC 5 Signature. Its been a fun project and I love the way it sounds. You can roll tubes and try different caps too. The sound is very smooth and natural, and I’ve found that it handles most things well. My entire music library is 16/44, and ripped from either CD or Tidal. I’d give it high marks for Redbook, but the Cirrus Logic CS8414 receiver chip in front of the AD1865 only handles 18-bits, so it will truncate anything above that. I have tried upsampling to 16/88 and the DAC handles that well but I don’t hear any difference over 16/44. You can definitely find many quality DACs that measure better for a fraction of the price of one of the ANK kits, but for me the fun was in the build, and in the upgrade process. I never compared it to a true AN finished-product DAC, but I am curious... I’d bet its close...