I own a Audio Research Reference CD9SE which I use for its DAC. I have compared it in my system directly with a new $22K Berkeley Reference Alpha 3. The sonic differences were absolutely minuscule… but when under real detailed analysis I preferred the ARC to the Berkeley because it was ever so slightly more musical while the Berkeley was a tiny, barely perceptibly more detailed. I was fully prepared to buy the Berkeley.
I have been a long termed fan of Audio Research and thought of them as preamp, phono stage and amp people. But after owning, and then comparing it to other contemporary DACs I went back and read reviews of previous ARC DACs… they have been fantastic since the beginning.
However, a thirty year old DAC? I would think going back fifteen years would purchase an great DAC… but not that far back.