"Best" DAC for a grand or less

I would recommend the bel canto dac 1.5. It retails for $1395 but you should be able to get one for $1100 - $1200 new. See link below to excellent review from computer audiophile. Good luck with whatever you decide.

http://www.computeraudiophile.com/content/Bel-Canto-Design-DAC-15-eOne-Processor-Review