I'm of the opinion there's more meaningful difference between DACs when compared on a good 2ch speaker system. With headphones, no matter how resolving, the differences in spatial information / presentation are far less meaningful when it's all being crammed into a headstage. The tonality and smoothness of a DAC are still quite important, of course - and this needs to be carefully matched to your chosen transducer - but there's generally "less" overall difference amongs DACs on headphones than with speakers.
Do I need a headphone or speaker to appreciate high-end DACs?
This is a common opinion I hear on forums:
That to appreciate TOTL DACs you need a very resolving transducer.
My question is, to appreciate such quality, do I need speakers, or will headphones be enough?
Typical TOTL DACs i hear are from dcs, Chord, Mola Mola, Holo, Lampizator, MSB, Rockna, Weiss etc. To enjoy that level of fidelity, do I need speakers?
When I say "enjoy", I dont mean subjectively feeling good. I am asking about the differences being big enough to spot on in blind A/B testing, compared to say, a 200$ Schiit or JDS.