The LTA Aero is the last DAC I will ever need to buy.

@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

Get a Audio Mirror Toubadour IV SE or a LAIV Harmony DAC...both R2R  and never go back!

Gustard R26 works for me. Started with a Topping (something) 70, then a Denafrips Ares ll, now the Gustard. I prefer R2R dacs.

@martinman

Hi,

So if you have no budget problems and want a R2R DAC you would definitely find yourself very well with AQUA - LA SCALA Mk III Optologic Dac, decidedly excellent and analog sound. Certainly not cheap but built with great accuracy and with top components.

Instead if you have budget problems a great solution could be a DIY construction using IAN CANADA cards. It is true that ES 9038 chips are still used but if you add a reclock card and a transformer audio output card (entirely passive) and also use a supercapacitor power supply then you will see that things change a lot. I myself after having various DACs also based on AKM or Philips or ESS chips I had never managed to obtain a sound that satisfied me (in reality I am a lover of vinyl that I reproduce through an SME turntable), so I tried the Ian Canada route. Now I am acceptably satisfied, good sound, transparent and sufficiently analog. With DSD 128 files really great!

Regards

Alessandro