It’s far more about your personal reaction to a high end DAC than trying to quantify what it does. I’ve been saying that audiophiles seem to have developed the ability to strain at gnats and swallow camels to an unusual degree. An issue that a non-audiophile can easily identify may seem trivial to the audiophile, while something unnoticed by a non-audiophile may be a cause of agony or ecstasy for the audiophile. The cause of the audiophile’s perception may be nothing to do with any change in the actual sound waves reaching their ears, but a combination of sound, vision and other knowledge that creates the whole perceptual experience. There’s no way to argue against this other than to listen and compare blind of any information about which item you are listening to other than what it sounds like. This shouldn’t cause any stress for the listener unless the audible differences, assuming they even exist, are extremely subtle.
How much does a DAC do the more expensive it is?
Having spun an Oppo 105 for many years on its own before adding a Schiit Gungnir (bought for a generous steal from a wonderful seller here), I was immediately struck with how much more presence and detail the Schiit added to the Oppo's presentation.
That Gungnir, even new, pales in comparison pricewise with 4 and 5 figure DACs I see for sale here.
So what do those much more expensive DACS do for sound? I mean, how much more information can be dug out of the digital files? Is it akin to what a good phono stage can do for a cartridge?