Need a DAC Recommendation.

@allhifi +1 on Gustard

I have two Gustard DACs, A22/A20H, both are well designed / built, class A balanced - unbalanced (RCA) output stages suitable for 5k+ price class, very low noise power supply block' based on two toroidal-low EM leak transformers, with separated digital and analog paths etc.

https://www.l7audiolab.com/f/measurements-of-gustard-x26-pro/

Gustard X26-pro test

vanson1, I see Gustard multitone performance is the best achievable, and that is the most important DAC perf-metric. third order is about -125dB, which is perfect. Third order harmonic increase over topping is because Gustard has discrete class-a analog signal path, which on my experience is better than regular OPAMP chip design.  

“ A22 is 95% of the what the X26 does from a reviewer who has reviewed both”
I wouldn’t rely on reviewer much. A22’s AK4499EQ DAC chip is: "The world's highest-performance DAC, with 140dB SNR (mono-aural mode) and -124dB THD+N”, and assuming A22 is a dual AK4499EQ mono-aural mode design, it should satisfy very high performance expectations.
There are many missing from test reports details, such as additional power filters in AC power, cables, etc. Another problem with high quality DAC measurements is tester limitations and tester settings/calibration/usage mode, which typically can be seen as test-results difference between reviewers. In addition, manufacturing companies sending “cherry picked - enhanced"units for test-review, and “randomly obtainable” product can perform worse than reviewed sample.