New DAC, what should I look for?

Two thoughts-

Since you already have Holo product, a Holo ladder dac.

If that doesn't do it, musetec (lks) mh-da005 dac.

Since you have HQ Player, I would suggest you look for a used T+A DAC 200. It has separate processing paths for DSD and PCM and does spectacularly well with high res feeds from HQ player. Yes, I own T+A gear, but this recommendation comes with a lot of outside support. There are forums on audiophile style dedicated to the unit and HQ player you might want to peruse. 

The DAC checks the boxes you list regardless of format (but is shockingly good on native DSD upsampled from HQP) and is within your budget pre-owned. At least worth exploring.

Best, 

The sound profile that I'm looking for is smooth and spacious

The PSA DirectStream Mk1 isn't smooth or spacious? Just want to clarify.

I love my Holo Audio Spring 3. Very smooth, spacious, good detail, solid all around. I will never look for another DAC. This part of my system is done.

Here are a few worth looking at given what you’re looking for.  Best of luck.

https://www.mojo-audio.com/demo-mystique-y-am-d-a-converter/

https://www.audiogon.com/listings/lisbcf2a-denafrips-terminator-dac-15-terminator-new-terminator-15-dac-plus-da-converters

https://www.lineartubeaudio.com/products/aero-dac-digital-analog-converter

OP:  The sound profile that I’m looking for is smooth and spacious.

Have you seriously tweaked the upstream components first, the modem & router?  With: LPS’s - digital filters - quality ethernet cabling - power conditioning?   

Agree with a Holo Audio DAC to match your Red streamer.  I love the sound of my Cyan 2.  Their May DAC is top of the line and you should be able to find a used one for under 5K.  

I think the Holo DAC recommendation is a good one from what I hear of their DAC’s. I use a Merason Reuss which fits your desired sound signature, worth a look.

@steakster The router is a Silent Angel Bonn with a dedicated power supply (HDPlex). All ethernet cables are AudioQuest. Power conditioning is done by PSA PowerPlant 12.

Regarding Holo Audio Dac's... I listened to the May KTE and although nice, it wasn't much of an improvement from my modded PSA DirectStream; different yes, but not necessarily better in all regards.

@soix I'm not sure about the Mojo... PCM only and no DSD support. Maybe I'm overthinking it, but I see that as a limitation. Same goes for the LTA. I'm working on arranging a borrow of a Terminator 15.

This guy says they all sound the same. https://youtu.be/hOOHneFYGYA

@texasblues1959 Just like there's people saying you can't hear the difference between cables, or between amps for that matter... everyone's entitled to their opinion.

You can get a Excellent Denafrips Terminator15- upgraded Terminstor 12thPlus  dac for That  price New and sounds Very good a Big 42 lbs true R2R dac.i sell them PT 

but just do your own homework these were $7200 last year. Even better today.

if you are looking at price ,performance, price Delivered in stock 

compare anything  in its price class that is delivered for this price and in stock.i own one myself with another great dac in my other system.

I'm not sure about the Mojo... PCM only and no DSD support. Maybe I'm overthinking it, but I see that as a limitation. Same goes for the LTA

Most DACs don’t do native DSD and convert it to PCM anyway.  I know T+A is one that does native DSD. 

@texasblues1959  that is the right mindset but apparently we have super human hearing every time we spend more

I second the recommendation for T+A 200 DAC. It's just unbeatable at that price for DSD performance and sounds pretty amazing with an added advantage of an analog preamp built in.

I third the recommendation for the T+A DAC 200.

@audiojan you have 2 reasons for going with the T+A - HQ Player and Holo Red. That is an amazing setup for the T+A DAC where one gets to experience pure DSD streams. A used T+A should be within your budget.

BTW, in your current setup, do you keep the SGC i7 out of the audio room?

For features, I would make sure it has: An excellent, linear power supply; I2S input, DSD512 and 32b/768k capability. Balanced and RCA outputs. The DAC chip seems to be either not relevant or critical, depending on who you speak with. At the moment R2R DACS and ESS 9038Pro are the big two, but it's all about implementation. I'd add OCXO clock, FIFO buffer, FPGA controller and a 10k clock input, One thing I'd consider: DAC's are still evolving rapidly. I'm not sure I'd spend 5k on something that might be old-tech in a few years. The 3k LAIV and Denafrips Venus 15 seem to fit the bill. 

Another vote for you getting a Holo DAC.

Just like there’s people saying you can’t hear the difference between cables, or between amps for that matter... everyone’s entitled to their opinion.

It’s not a question about whether people are "entitled" to their opinion, right? I mean, that’s like saying they’re "entitled to their left hand."

This is about whether there is a way of testing so they can *verify* whether they actually hear a difference or they are fooling themselves.

Are people "entitled to fool themselves"? Yes, in the same way they are entitled to their left hand, their opinion, etc.

I went back and forth many times, controlling for variables, each time I changed DACs. I could hear a difference. I had friends change the DAC while I was blindfolded. Many trials. Then we switched roles. We all heard differences. Not perfect science but not just guessing, either.

Most people I talk to who want to move up from the PS Audio go in one of two directions if they are happy with it. 
 

The Meitner MA3i is going to be an elevation in just about every way while maintaining the same core sound.  It is DSD upsampling as well.  Two steps up would be Playback Designs MPD6 and it is a debate about Playback MPD8 vs EMM DA2i as 3 steps up and which is better is a matter of taste.  
 

Alternatively, I have people that go with Bricasti and the M1 S2 or M21 are noteworthy improvements over the DSD.  This has slightly tighter bass and maybe a hair less air in the treble compare to the Meitner.  
 

I have a lot of customers quite happy with both paths.  Needless to say I am a dealer for both but there are lots of us out there and do sincerely think either could work. 

@hilde45 We're in complete agreement. But I'm not going to argue against someone that thinks all DAC's sound the same. It's their opinion and I will just leave it at that.

Regarding the T+A DAC200.. I don't think the preamp is defeatable and I have no use of a preamp (the MasterSound Compact 845 is an integrated amp).

@audiojan We are in agreement. The phrase bugs me because the phrase "I’m entitled to my opinion" is a fallacy; it is used to preempt or dismiss arguments against their position; the phrase is asserting they have a right to hold their own particular viewpoint. This is a truism. The only interesting issue is whether one has a  right to think something based on evidence or justification. In other words, saying someone has a "right to their opinion" excuses them from the rational obligation of  justifying their belief. It's perfectly reasonable to avoid debating with people, of course. It may be too conflictual and unpleasant. But just to be clear, there is no "right" they are actually asserting.

Often when people claim a "right to their opinion" they are trying to hold a factually indefensible position or even suggest that everyone has an equal right to be heard on a topic when only one of the two parties has the relevant expertise to determine what is correct.
 

Regarding the T+A DAC200.. I don't think the preamp is defeatable
 

@audiojan Actually it is. You can set the output to FIXED and use your amplifier to control the volume. Alternatively you can set the output to VARIABLE, if you want to use the preamp functionality. 

Like I said, "this guy says" jeez reading comprehension here is non existent.

@texasblues1959 Just like there's people saying you can't hear the difference between cables, or between amps for that matter... everyone's entitled to their opinion.

@kofibaffour did not say I agree with that knucklehead.

@texasblues1959  that is the right mindset but apparently we have super human hearing every time we spend more

@texasblues1959  I guess I am alone in my agreement with him. Sorry for engaging 

@kofibaffour no worries what DAC are you using? That will be very telling I bet. 

@texasblues1959 

This is my main setup:

Speakers - Genelec 8361A.

DSP/Streamer/Room Endpoint/Subwoofer Management - MiniDSP SHD Studio

DAC - RME ADI-2 DAC FS

Subwoofer - Two Power Sound Audio S1512m

Room Treatment - Targeted Comer Bass Traps and Diffusion Panels

Yes indeed. @kofibaffour enjoy.

What about a Gryphon DAC since you have a Diablo?

I would also look into Aavik DACs. The DAC in my Axxess (Aavik’s budget brand) Forte integrated is absurdly good for being a built-in unit in a $5500 integrated. 

If a Holo May was merely “different,” I suspect you might end up chasing your tail in trying to upgrade the Directstream. 

 

Why don't you just have your MK1 upgraded to the Limited Edition Signature Series PLUS.  It's a large improvement to the unit you have currently.  It's going to be hard to beat by any current DAC costing up to $15000.  We did tons of listing sessions with many high end DAC's including the Terminator Plus 12th, Holo May lvl3, Bartók APEX and even the newer Directstream MK2 and the Limited Edition Signature Series PLUS always came out on top.  This is with level matched and blind listings sessions with many audiophiles on a very revealing system.

Also APS has special pricing for repeat customers.  You just have to ask them.

@jk_richards i might very well do that no matter what I do.

Listening to a Lampizator Big7 right now and this is a pretty special DAC. Might be what I’ve been looking for. Time will tell!

@audiojan 

Lampizator DACs have been my go to for years.  The Big 7 is no longer in the lineup as it's been merged with the Golden Gate.  Having said that I have a Big 7 for sale as I went to a modified (by Lampizator) Golden Gate.  Also, you may consider listening to the Baltic 4 model that may be the best value DAC in their whole lineup.

I agree with the DAC200 recommendations.