DAC Choices - $5,000 to $7,000


What are the current top DAC choices in the approximately $5-$7K price range (new or used) that I should look at as possible upgrades to my current Metrum Adagio?  Having an on-board volume control is not a factor as I can operate my system either way.   If I wanted to spend more I would look at Totaldac, Rockna Wavedream Signature, or one of the other top-end contenders, but I selected the price range to achieve a sound quality that is consistent with the rest of my system and because I don't want to spend more due to the still evolving nature of digital technology.  I do like the more natural sound (to my ears) of NOS R2R DACs.  So far, I have considered the three below, but none seem to be a slam-dunk upgrade from the Adagio, which still sounds pretty good in my system.  The decision is complicated by having to "buy to try" so that I can hear one in my system.  Maybe now is not the time for an upgrade.  Any thoughts?

  • Denafrips Terminator w/DSP board - Reportedly has the full body/dense tone type of sound I like, but also has a high'ish output impedance 
  • Holo May KTE - Reportedly measures great for an R2R DAC and has strong reviews 
  • Rockna Wavelight - Some reviewers like it but others put it in the middle of the pack for the price
mitch2

Considering your budget, I suggest reading the Peachtree GaN 1 thread. You might just be selling a lot of the kit you have

hth

+1 on the Merason DAC 1. Simply fantastic at its $6k price point, an absolute no-brainer at a discounted used price.

@dvdboulet 

 

I have a Totaldac D1 Tube MkIII and two Meinter MA3’s. Full disclosure: I have sold off one of my systems and will be selling one of my MA3’s. Its a terrific dac.

@ghasley what did you buy to replace them?

Indeed the lack of volume control is a key reason I haven’t jumped on purchased a dac like the DAC-1 only because at present I don’t have a pre-amp (and the added expense of a decent pre-amp would likely be as much or more than whatever dac I’m hoping to afford).

@bradhaf 

 

The Frerot on its own is a very nice dac, competes well with similarly priced dacs, the Frerot with the upgraded power supply is an absolute bargain. The Dac1 is an altogether different beast. A full fledged, highly capable dac with wonderful color, texture and tone. It hits harder while never losing its composure or delicacy. Full disclosure: I have since sold both Merasons. I opted for dacs with volume controls…you cant go wrong with the Dac1 one and it will not be the weak link in your system in the unlikely event you have one at all.

Horning Pericles DX2 Ultimate speakers + two Rhythmic L12 subwoofers + AmpsAndSound Mogwai SE 8W SET amp.

@ghasley, you said you have both the Merason Dac1 and Frerot.  Could you please describe the differences between the two?  I have the Frerot and just recently sold my Chord Hugo TT2 because the Frerot sounds so much better in every aspect for less than half the price.  But I don't like having to constantly move the Frerot between my headphone system and my speaker system, so am thinking about the Dac1.  But also looking at others.  Thank you.

@grannyring thanks for the thoughtful post and for taking the time to compare the dacs. I am more certain than at any time in the past that today the performance gaps between entry level, mid priced and the upper end of the price spectrum dacs compare favorably. Not that long ago, entry level dacs sounded broken…Mid level dacs left alot of us wanting and the upper end began to sound like music…today, if you have a border patrol or a merason or a mojo or a meitner they each sound terrific within their abilities.

Couple of more comments. I use the usb inputs only on both dacs. My digital front end is as follows:

linear power supply powered modem - Network Acoustics ENO ethernet cable - English Electric Switch 8 powered with a linear power supply - Network Acoustics Muon Ethernet cable - Network Acoustics Muon ethernet filter - Innuos Zenith 3 - Tchernov reference USB cable to the dacs. The dacs placed on a Sound Anchors 225 pound rack with the dacs on Townshend Pods

 

Both dacs had great body, solidity and never sounded thin. Both threw a nice big stage and imaged like champs.

I have been comparing a fully burned Merason Dac 1 to my Mojo Audio Evo. Tony of Ellington Hifi provided me with a trial unit. Let me state that Tony is a great guy and A+ dealer!

So my wife and I have been comparing both dacs over the past 5 days. The Dac 1 has been playing music 24/7 over these 5 days. I should point out that even though the Dac 1 had many hours on it, I found it needed a full 36 hours of playtime to settle into my system. No additional sonic changes after 36 hours of play.

My Mojo EVO dac is an upgraded Mystique 3 that Ben helped me upgrade with his valuable coaching from a distance. Here are the particulars of my Mojo Audio dac:

- upgraded EVO USB input board provided by Ben

- all five chokes upgraded to Lundahl with the all important analog section chokes being the better amorphous type.

- the op amps upgraded to Staccato class A discrete op amps per Ben’s recommendation.

- added chassis vibration control

- WA Quantum chips added to Mundorf 4 pole capacitors

- ERS tape applied on AC inlet area. Very small amount used

This matches up to the higher level EVO offerings when offered last year. Not exactly the same, but pretty darn close.

 

Ghasly and Starboard are spot on in their review and comments of the Dac 1. It is easily the best sounding dac I have heard at its selling price. The only dac I have heard that sounds as good at $10,000 and under is my Mojo Audio Dac. More on that comparison in a moment. I have owned and listened to some great dacs including the Luxman DA-06, the Aqua line of dacs, Lampizator Amber, PS Audio Direct Stream, several upgraded MHDT dacs and others I can’t seem to remember 🤔.

 

The Dac 1 has an addictive golden glow that softens the highs just ever so slightly making music so enjoyable and fun to listen to. It offers amazing detail retrieval, but not in an aggressive manner. It’s resolution of inner detail is delivered with a warmish vibrancy that is special. The level of sonic realism is stunning at this or any price point.

So how does it compare to the mighty Mojo Audio dac? Very well! In the end I preferred my Mojo Audio dac ever so slightly, but the Dac 1 came very close to it sonically. The Mojo Audio Evo remained a tad more composed at higher volumes with a greater sense of ease. When music was more complex the Evo dac sorted things out a little better and cleaner. The Evo bass drive was slightly better, but this was close. Finally, the Evo revealed differences in recordings better by not editorializing with any personality of its own. The Dac 1 has a sonic signature that listeners would never notice if not comparing to a dac like the Evo. The Dac 1 has this golden glow of vividness that one hears recording to recording. Initially I thought the Dac 1 revealed details not found with the Evo. After more listening it became clear the same details were there with the Evo, but presented in a less “obvious”manner. Is the Dac 1 too vivid? No. Absolutely no. My comments are only in comparison to the Mojo Audio Evo.

I think the Dac 1 is an astounding value and deserves far more attention in audio forums. I have done my part here. I am confident some would choose the Dac 1 over my Evo in my system and theirs. The dacs are that close in performance.

I honestly felt there was no way this $5500 dac would really compete with the Mojo Audio dac. However, comments from Starboard and Ghasly peaked my curiosity. I was taken back by the stellar performance of the Dac 1. A sonically well balanced dac top to bottom that is full bodied and absolutely beautiful sounding.

 

 

 

 

 

Hi All,

I was so impressed with my used Mystique DAC that I ordered a new EVO 4B4, which I received in mid-November; so I have been using it for about two months.

It took a while to break in and, at first, I thought I might have made a mistake. The EVO was immediately a bit more detailed and nuanced to me compared to the Mystique but the musicality was not there. The musicality has shown up after the first 100 hours along with what I would call liquidity; a term I have never used before to describe how my system sounds. The other thing I have noticed is that there is a better decay, which provides more sheen to the cymbals and a ring to the guitar if it is on the recording. Overall, the sound is generally better than it was with the Mystique.

The Mystique was a game changer for me as it was that much better than my old DACs. The EVO 4B4 is more of an incremental improvement on all fronts. I suspect that this relates to the old adage that you get what you pay for but there are diminshing returns.

My personal opinion based on keeping the same amp, speakers, transport, etc.; is that there is a price/quality relationship at the less than $2000, $2000 to $5000, and $5000 to $10000 price levels for DACs. This is my perspective based on my personal experience with my gear and the synergy (or not) of my components.

Thanks for listening,

Dsper

 

 

 

 

 

Hi @mitch2 there are so many wonderful dacs out there and while a great deal is system dependent and which input is used vs which one is optimized vs which one is optimized for our specific systems, aren't we all fortunate to be enjoying hifi today!

 

To echo @starboard , I own a Merason Dac1 ( I also own a Merason Frerot in my office system). It is quite the performer and I recently read the Ear review and thought "holy crud, what was he listening to? What he described in the review wouldn’t have lasted one track in my system. To further compound the confusion, the Merason Dac1 made their Best Hifi Components of 2021 list. The two digital products on the list were the Merason Dac1 and the Melco N10. Oh well, reviews are data points for our research rather than answers to a question. I am a former owner of Totaldac D1 Tube mkii, Nagra Classic Dac, Chord Dave, Lampizator Golden Atlantic, Aqua La Scala Optologic and most recently, a MSB Discrete Dac with ProUSB and the dual outboard power supply option.

 

Is the dac1 better than all of these? Well, I guess I would have to say no...but here is the context, both price and performance...no dac is better than all comers. I have found that the dacs I enjoy most are the ones where they are strong at what they are strong at while committing the least sins in those other areas. The mystiques, MSB’s, Totaldacs, etc are all terrific...the Merason Dac 1 belongs in the conversation IMO. I have another dac I own which is also exceptional but it doesn’t fit the price band of this conversation. The best news of all?....we are getting perilously close to a time when a really fine dac can become a long term occupant of a shelf in your systems. My thought process was always "something better will be out in a few years so buy knowing that fact....I no longer feel that way. Its not like next year that a dac will come out and make you feel like your old dac was broken....LOL...20 years ago, that was not the case.

 

Be well all....

 

 

Interesting @starboard . The reviewers do not always get it right for whatever reason. Jason Kennedy has been reviewing for a long time and I believe he was with HiFi+ prior to The Ear. Here is another positive review by Part-Time Audiophile.

Thank you for the clarification and for sharing your comparison with the Mystique v3. Mike at Tweek Geek is a good guy to deal with and if I was looking for a DAC, having a home trial is a great way to go.

Mitch,

The ear review blows my mind. The Merason sounds to me in my system quite the opposite of his review. There are two other professional reviews, one is from HiFi News…..

Hi-Fi News Verdict
The richness of the sound won’t be to every taste, but it’s never cloying or overplayed: instead, Merason’s DAC1 backs up its smoothness with power and unforced detail to consistently appealing musical effect. True, the limited format handling may rule the DAC1 out for some – it takes a stand against digital expansionism! – but its singularity of purpose pays off in a sound as appealing as it is easy to enjoy.

These days, from expensive experience, I take reviews with a grain of salt.

My search was to find a dac that has the musicality of the Mojo mystique v3 and after a long expensive search I found it in spades with the Merason Dac1.

Some of the dacs ive tried are the Denafrips Terminator, Holo Audio May kte, Sw1x tube dac, Sonnet Morpheus, Audio Mirror Tubadour (this was a very musical dac but lacked the bass that I like), Metronome Le Dac, Aqua La Scala Optologic, and a couple more lesser dacs.

The Merason Dac1 is a better fit in my system to my ears than any of these and of course others mileage may vary.

Branislav,

The Mojo mystique v3 is an incredible dac that I should have not ever sold but I just had to try something different. The audiophile curse!!!

But to answer your question, and to the best of my memory, the Merason Dac1 is very similar to the mojo mystique in tone and fullness but has better resolution,

Starboard

 

 

 

I ended up with the Mojo Audio Mystique EVO B4B 21 D/A Converter (with a couple of upgrades) and have been pleased with the sound.  For various reasons, I am glad that I didn't go for any of the three DACs listed in my OP, although maybe the Terminator Plus could have worked for me.

No piece of audio equipment hits it out of the park in every area so it really comes down to finding gear that matches your sonic preferences, ergonomics (i.e., features/functions, display, size, and appearance), and budget.  The main things I like about the EVO B4B are the rich, natural sounding tonal qualities, and the total absence of any digital thinness or stridency.  The trade-off seems to be a leaning toward body vs. detail.  I find I can listen to a wider range of music without fatigue because of that.

Benjamin doesn't sit still so he has come out with a new Mystique X DAC that will be offered at various levels and prices.  I was a little disappointed by Mojo's abrupt change to move away from a model and style of DAC that was intended to be EVOlutionary, i.e., somewhat "futureproof" and upgradable.  I suspect there were some supply and construction cost issues that forced the change.  However, on the plus side, with Mojo you basically end up with a bespoke product that is built to a very high quality, using traditional designs to create the most realistic sounding music reproduction they know how to achieve.  If he can offer the same sound quality at similar or lower prices with the new line then good for him. 

If I were purchasing today, I would look hard at the Mojo Mystique X and the new Sonnet DAC, the Pasithea, both of which are due out soon.  In addition to whatever upgrades the Pasithea offers over the Sonnet Morpheus, I probably wouldn't purchase either unless they improve on the hard to read display in the Morpheus.  I have been spoiled by the display in my Hattor BIG preamp, which can be easily seen across the room.   

The Merason DAC1 discussed by @starboard looks interesting and well-constructed but The Ear review had a couple of comments that seemed to move the DAC1 away from the type of sound I enjoy from the EVO B4B DAC:

"Merason takes a more black and white view and has voiced the DAC1 to be as revealing as possible and hang the consequences, whatever your source is producing that’s what you’ll hear." and "The tonal balance remained on the light side however and while this works beautifully with better recordings it can feel a bit uncomfortable with lesser ones,..." 

I realize this is an older discussion but it won’t hurt to freshen it up a bit.  
I sold my mojo audio mystique v3 over a year ago and have been on a constant search trying to replace it. I’ve tried many dacs, many more then I care to admit and finally found a dac that just plays beautiful music. No fatigue, no bloat, no fireworks or pyrotechnics, just good warm music. No MQA, no DSD just 16/41 to 24/192. It’s the Swiss built Merason Dac1. I find it hard to understand there is no noise or discussion on the forums of the Merason. It’s list price is $5500 but my dealer shipped it to me at $4950. Prior to me buying it Mike at Tweek Geek sent me a demo on his dime to try. This certainly eliminates stress of buying and having to sell if it doesn’t fit in your system. 
The dac has a huge soundstage deep and wide, never ever bright with the perfect amount of detail. Bass is full sounding which helps to provide a great foundation of the music. This dac is very large sounding with plenty of meat on the bones. 
if anyone is shopping for a dac in the $5000 range this is a great very musical fun dac to audition. 
Starboard

am currently comparing at length the doge 7 (and an audio note ank 4.1 tube dac) against my references chord tt2/scaler, sonnet morpheus and audio mirror tubador 3se

am not through the listening/comparing yet but i can say at 2 grand the doge 7 is spectacularly good... jbhiller’s description earlier in this thread is quite accurate, it is very very close to the m scaler/hugo tt2 at over 10 grand cost - to my ears it is also more natural sounding than the top denafrips terminator...

more later
Simply based on the bottom tier Mojo-Audio DAC in my system I’d have to think the better DAC’s should be on anyone’s audition list. If I had the $$$ for sure one would be in my system.
My server was built by Mojo and uses his Deja vu software.

I ended up with Mojo Audio's Mystique EVO B4B 21 D/A Converter, which I found to sound a bit better than the Mystique v3 it replaced, but cut from the same basic cloth.  It cost a bit more than the budget I posted to start this thread last December.  As @jimmy2615 reports below (or above depending on how you sort), it serves the music very well.   Not sure which version Jimmy heard but IMO the B4B 21 displays great tonal color, deep, dynamic and slightly rounded bass, and no noticeable SQ shortcomings but maybe (and subjectively) falls just a bit short of some other very good DACs with respect to all the audiophile markers.  I also have the Deja Vu EVO Media Server and I am fully satisfied with the musical sound resulting from that combo in my system. 
I do not have Linndrum808's extensive experience with as many DACs as he/she, but I can say the Doge 7 is wonderful. I did, however, have a Stereophile class A DAC before and some other great ones coming through my room--all of them lost to the Doge.  

The Doge's build quality is fantastic.  ClarityCaps used throughout.  Great separation of wiring, power, etc.  Internal build is clean and beautiful. 

The Doge's features are great and work without issue.  I run mine all the time. Not an issue.  Controls are laid out well.  The DSD and USB stuff links to other systems (Roon NUC, computers, etc.) well without issue.  

For me, the Doge's sound quality is what has kept it here in my room, which sees lots of rotating gear.  I was looking at getting a DAC that could compete with my vinyl side of things:  Kiseki Purpleheart, Manley Chinook, and Technics 1200 GAE (anniversary edition/$5k table).  It did that so it's been here since.  Its job was to make me love streaming as much as my records.  I do.  

The sound is clear, big and on just on the wet side of neutral--it is not dry, cool, and analytical.  It is slightly wet, slightly warmish, and musical.  It does have detail and precision--just not at the expense of casting a beautiful musical picture.  Instruments though sound just like they should.  The soundstage is big and holographic.  And while I get no fatigue, it's not laid back or sleepy--it is big, bold and beautiful. There's no sheen, haze, hash, or anything forced.

The stock Chinese tubes are very good but not exceptional.  You don't need to roll tubes to hear what it can generally do, but it is responsive to rolling.  I have found, however, that it doesn't need super special tubes to open up and sound its best.  It can sound amazing with resissue Gold Lions; my private stash of NOS tubes do make a difference but I don't feel they make it that much better as compared to using NOS in preamps.  

I have some pieces in my room that I'd recommend, but none that I feel as strongly about at this price point (likely pushing $2k now).  This DAC is exceptional in sound, build and value.  If you told me it was $5k I'd say it is worth it, but for the understated looks.  To be clear though, by understated I do not mean cheap or inexpensive looking; it's a strong build. 

I wish they came up on the used market, as I'd buy another to use with friends' systems.
@quanghuy147 I have had both in my system.  The Mojo has a certain naturalness to it that is rare IME, I describe it as moving from the recording booth into the studio.  Especially on red book 44.1 material it is really good.  The Terminator however was more three dimensional in my system and did some of the “HiFi” (in a good way) things better.  Also it is very flexible with the ability to oversample, DSD, and offers very hi-rates if you like that sort of thing.  For the price I would choose the terminator, which was about half as much as the Mojo.  I was running both with a aurender N20 into Luxman electronics and Harbeth speakers.  As always, system matching is key.  
If you are in search of excellent value ...

The R7HE MK2 is a dual mono fully balanced Class A reference quality PCM/DSD DAC that is dramatically underpriced for its performance level. We have heard no DAC at near this price that presently competes with it. Most competitors are selling this level of quality for well over $10,000.00. Parts quality is world class. This is easily the best DAC that we have ever sold. We were shocked at its performance at this price


https://www.underwoodhifi.com/products/audio-gd

hth
Bricasti m3 with streamer card is a incredible deal and digs very deep into the recording and sounds very natural vs the Holo springs May KTE and Denafrips 
terminstor +. The Bricasti sounded more fleshed out with better tonal balance ,very close 95% of their $10k m1 dac and  a pure Analog preamp section from their m21 , and Differentially balanced circuit ,and running 2 ANalog devises 1955 
Multibit dacs  ,I can see why Bricasti is used often in professional  mastering studios . I bought the M3 which also module for future upgrades ,CNC machined aluminum chassis ,and made in MA. U.S.A  not China !!
How good is EVO compared to Holo May and Terminator? I have tried to find the answer to this question but couldnt find one. 
Doge clarity 7 best DAC at any price.
I have owned Berkley Audio, Lumin, Chord.....etc.

Just curious... do you have the stock tubes or did you replace them (and with what)?
Doge clarity 7 best DAC at any price.
I have owned Berkley Audio, Lumin, Chord.....etc.

I own the Bricasti M3 with streamer card  and the the latest MDX board it is very well balanced and in no way thin sounding ,exceptional musical ,with precision and prat.
hearing all instruments in space with depth and realism even more so with
a true balanced preamp or integrated like my Coda CSIB , the M3 also being Differentially balanced,using xlr 
and Ethernet cable is the best low noise , the uptone audio Ether Regen 
is a noticeable  upgrade for anything of quality using a Ethernet to streamer .
FWIW...

A quick update on the Mojo Audio Mystique V3 compared to a Soekris 1421 and Theta ProBasic III.

I have been playing all three DACs in my system for about two weeks now. Perfectwave Transport, CJ 17LS2 preamp, DNA-500 amp, and Thiel CS5i speakers.

Musicality: Mystique is the most musical as I catch myself listening into the music and not the sound. It has the best pace/beat and is toe tapping; followed by the Theta, and then the Soekris. 

Emotion: Mystique blows the other two away in this this category. Sort of ties in the with musicality for me.

Space: Mystique does space well with lots of ambient clues. Best depth of soundstage followed by Theta and then Soekris or Soekris and then Theta depending on recording. Hard to describe this.

Soundstage (or Imaging?): The Mystique can make me think there is an instrument distinctly in front of the speaker and it is extending sound to the outside of the speakers. This does not happen with the Soekris or the Theta. 

Detail: Soekris and Mystique are pretty much a tie. The Theta is slightly behind. This shows up in the treble for me as the Theta can sound slightly more harsh than the other two on bright recordings. I am thinking it is not giving enough detail to the Thiel tweeters, which can be a pain if not fed properly.

Dynamics: Mystique and Soekris are very close followed by the Theta.

Bass: Mystique is the most textured and nuanced followed by Theta and then Soekris. Deepest bass is maybe the Soekris followed by the Mystique. Theta is very close to the other two. 

Sorting out vocals and instruments: Mystique followed by Soekris. Theta, is not that far behind the Soekris.

Summary: I think the better power supply and whatever the Mojo Audio folks are doing in the output stage makes the Mystique sound the most real with live presence to me. The Soekris, at 1/6th of the retail price of the Mystique, is a good DAC but it is not as musical and nuanced, which are real important to me. The Theta, $2700 when new, stands up pretty well for a twenty year old DAC.. Depending on your priorities and system, you might prefer it to the Soekris. 

YMMV.

Thanks for listening,

Dsper


Speaking or Auralic Vega G2.1, which is right at the boundary of OP’s $5-7k range, has anyone done a comparison of that streamer/dac versus those discussed in this thread (Mojo, Holo May, PS Audio, Chord Dave, Denefrips, etc.)?

TIA
@ddafoe
@ddafoe@dsper, I did exactly as you suggested last year; sold my Bricasti M3 and tried the ASR darlings RME ADI2 FS and Topping D90...

@d@divertiti@dsper Unless you want your dac quest into having to rebuild your entire system, maybe best to stick to choices that will work well with your existing components that you already own and like. 
I finally made some moves with DACs instead of just talking about it. First, I bought a Soekris 1341 DAC (unbalanced) for $900. This replaced my Theta ProBasic III. The only difference I truly heard was a bit more detail but not necessarily a better sounding DAC.

Then, I made a decision to try a more expensive DAC. With the Mystique EVO getting all the recent press, I was able to buy a Mystique V3, which was a $5500 DAC when new, at a good price.

It is an ear opener.

The V3 brings more bass to my system such that I can now hear the 25 Hz test tone on the Stereophile Test CD-2. Never could hear this before.

More importantly, the Mystique has awakened my Thiel CS5i's. Dynamic contrast is better and the sound seems to flow better. The imaging and soundstage has improved. I am not sure how to describe this exactly but the Thiel's are disappearing in a new way for me. I can look right at a speaker and "see" an instrument in front of the speaker. It is fleshed out like it is right there in the room.

Whoppee!

Thanks for listening!

Dsper
I would say the VEGA G2.1 will be one of the top performers on this price range due to its jitter free operation (internal record and replay with it's own clocking) and the r2r volume control.
I highly recommend the wyred for sound 10th anniversary dac, it's the most analog sounding dac that I've ever had in my system and I put it up against the Sim audio DAC for $15,000 and the 10th anniversary dac left it in the dust. Darko also did a review of this dac and he said it was better than the PS audio stream chord and a few others. And another reviewer said it was the most analog sounding dac that they've had in their system I totally agree.
@fsonicsmith Thanks for the heads up.  I get more intrigued by the day. 

I'm sure the Mojo's are great given the number of positive reviews, but I'm leaning towards the SW1X.  I e-mailed Mojo to ask about the unit's distortion profile (not amount) and they refused to give me an answer.  Was looking to find out what the second and third harmonics looked like but only could get information about how great the power supply is.  Clearly it's a great dac, but it was frustrating not getting a relevant answer.

Btw, here's the SW1X DAC III review referenced:  https://www.dagogo.com/sw1x-audio-design-dac-iii-review/
Thanks @facten for posting the review of the B4B.  I hope the reviewer got it right because what he described is what I hear from the Mystique V3 and exactly why I ordered a B4B:
It sounds organic. It sounds Natural. It sounds like music. The detail and resolution are all there, but never highlighted or overt. Pace and rhythm, toe-tapping yes oh yes. High-frequency extension and low-end oomph? You betcha! How about stage depth, image density and localization, and overall presence? Consider yourself chillin' in the jazz hall, dressed to the nines at the Symphony, or stoned out of your mind from second-hand smoke at the stadium. The DAC belies reviewing because as a digital source, it just doesn't sound digital. Every time I sat down with my notepad to take notes and critically analyze the damn thing, I just ended up listening to music.
Dagogo just came out with a review of the DAC III. It matches my impressions of my DAC II Special which hopefully, within a month, will be swapped out for an incoming DAC III Balanced. It should be noted that the balanced version doubles the price from 6K to 12K. Also, am much as I impressed by the product, I will warn prospective buyers that they need to be patient. Each time I have ordered, the estimated delivery time has doubled. Expect 2-3 months. Slawa personally sound-tests each and every unit before it leaves his doors and if he hears anything amiss, it gets held back for further adjustment. These are the opposite of mass produced products-they are assembled by hand and constantly evolving. That will surely draw some flack from those of you out there who judge-and if you find this lack of consistency a turn-off, SW1X is not for you. Unless you were to listen to music with one.....
Right now I am listening to  a RME ADI2 dac fs and an PS Audio DStream latest model with Windom program. Lot of good features on the PS, but also on the RME. Great bass on the RME, very good sound stage. I stream only thru a Blusound. Rest of the year is  new ARC LS28SE, Parasound A21+, GE Triton Reference. I really can't see keeping the PS for the 5k difference.
You might consider the DAC's from Simaudio. Great reviews, and my personal experience with their products has been very positive. 

@divertiti Unless you want your dac quest into having to rebuild your entire system, maybe best to stick to choices that will work well with your existing components that you already own and like...

You are certainly correct. I think I have the amp and speakers settled although I want to try tube amps at which point I will need higher ohm speakers.

In the meantime, I keep aiming for a more live sound, which I think can come from more transparency and "presence" for my system.

That has led me to thinking about DAC and Preamp Upgrades.


@facten  - Thanks for the tip on EVO inputs. I had previously been using the Metrum Ambre as a Roon endpoint and I can output either RCA SPDIF or AES/EBU from that. I can also use USB directly from my Antipodes DX, which is how I am listening to the Mystique V3.  With the Adagio, I liked either the I2S or the AES/EBU.  With the gear I have here I can try all three of those input options with the EVO, so it will be interesting. 

@cal3713 - the Sw1x DACs look interesting and remind me a little of Audio Note.
For people still shopping, another contender seems to be the Sw1x dacs. R2R with tube output stages. I've seen nothing but praise. I think that's the next one I'll try (either the III or IV).
I have the EVO and use RCA SPDIF connection, very musical to my ears. Whether or not the balanced connection sounds even better I can not say , but from my experience the single ended connection is very satisfying
@yyzsantabarbara - Thanks for the AudioByte recommendation but the DAC ship has sailed for me, at least for now.  I sold my Metrum Adagio and like  @ddafoe, I am currently enjoying the Mojo Mystique V3 Balanced.  I actually like it so much that I will (hopefully soon) be receiving a new Mojo EVO B4B DAC.  Benjamin at Mojo is helpful with trade-ins so I can keep the V3 until I receive and try out my new EVO. 

At the same time as I await my new EVO DAC, Steve McCormack is building me an SMc Audio UltraDAC G (or whatever he will call the highest level he can do with the McCormack DAC-1), which will include the new board they have made for the McCormack DAC-1 and also their Gravity Base.  The UltraDAC will be limited to Redbook resolution but some folks believe it sounds outstanding within that limitation.  Since probably 95% of what I listen to is Redbook quality, and since I trust the results of  Steve's work, I will keep an open mind.  It doesn't hurt that I need two DACs so I can keep both. 

@dsper - FYI, no need to rebuild anything as the Mojo Mystique V3 Balanced also has single-ended inputs - and so does their new EVO DAC.  I run my gear balanced so I have not tried the single-ended inputs but you could maybe take a look at the reviews and whether any of the reviewers tried it through the single-ended inputs.  You could always contact Benjamin and ask his opinion as to the sonic differences between using the balanced and single-ended inputs.  He is quite responsive to questions.
@dsper Unless you want your dac quest into having to rebuild your entire system, maybe best to stick to choices that will work well with your existing components that you already own and like. Also every dealer and manufacture will claim their product is superior, I wouldn't take that at face value without getting independent references from those who have made a direct comparison between two products. Even then everyone's system, ears and preferences are different, there is no substitute for hearing it in your own room.