@martinman -Having owned and a number of ES chipset DACs in the past, and been disappointed by the sound, I gave the ES chipset one more go and purchased the LKS MH-DA005, based on rave reviews by many A'gon members. It's an end-game DAC, and with the release of the MH-DA006, an affordable (under $2000) purchase.
It uses two ES9038pro chips, has a beefy power power supply and Mundorf capacitors. I mention the power supply and Mundorfs to echo what others have said on this thread. It's not only the chipsets but how they are utilized.
https://forum.audiogon.com/discussions/musetec-lks-mh-da005-dac?highlight=LKS%2BMH-DA005