I've owned the Benchmark DAC 1, the PS Audio DL III, as well as a Musical Fidelity V-DAC, haven't heard the DAC Magic.
To me, the Benchmark was too bright/harsh. The PS Audio was very nice, smooth yet detailed. But I ended up keeping the V-DAC. For about a third of the price of the PS Audio, it was very, very close. I'm still not sure if I heard a difference or if I thought the PS Audio was better because it looked nicer and cost more. I liked the V-DAC so much that I just ordered a second one for my headphone system.
Good Luck
To me, the Benchmark was too bright/harsh. The PS Audio was very nice, smooth yet detailed. But I ended up keeping the V-DAC. For about a third of the price of the PS Audio, it was very, very close. I'm still not sure if I heard a difference or if I thought the PS Audio was better because it looked nicer and cost more. I liked the V-DAC so much that I just ordered a second one for my headphone system.
Good Luck