Holo May KTE vs Lampizator?

It depends on what you are looking for in terms of “improvement”. The presentation between the two brands are very different. In my experience, the May is a bit more forward, and can be just a tad brash up top. Lampi on the other hand starts on the warmer and not as resolving side, despite having a more magical midrange. 

To match the resolution of the May, you can likely get a Baltic 4 and invest about $1K-2K into tubes, and you might get similar resolution with a sweeter top end and better midrange magic. The Golden Atlantic TRP with premium tubes would sound even better, and more linear.

Set your expectations commensurate with the age/condition of your ears and quality/resolution of your room. Lampizator will deliver no such miracle.

Agree with the above, very different presentations between each brand. I really enjoyed the May KTE when I had one in for demo, it was crisp and clean, very immediate but not in a bad way. I guess that would be called transient snap? Really lifelike.

I ended up buying a Lampizator Golden Gate 2 instead, because of the somewhat more open sound and that beautiful midrange. But I would have been really happy with the May if I just went that way. A lot of it also depends on your other components and especially speakers. Definitely some speakers that would prefer the May versus the Lampi.

I’ve heard the May and I’ve owned Lampizator DACs for years and years. Currently an Atlantic 3 TRP. 
I agree with blisshifi ‘s statement. Good answer! 
Another cool factor with Lampi is the higher voltage signal. I like how bigger and more vivid the imaging is due to this. At least in my system compared to lower volt DAC signals. 

I have a May KTE and Lampizator Atlantic 3 TRP. Both fantastic.

I'd say the Lampi is more organic and natural sounding. When you get the right NOS tubes it really shines. If you want to save money skip the volume control and balanced operation, they're not totally necessary, but I got both.

A much larger jump for me has been upgrading servers and playing locally stored files instead of streaming.