When I went to upgrade my dac I listened and demoed in my system as much as I could. After narrowing it down to the MSB Reference with separate power supply and the Nagra Tube Dac with separate power supply I ended up purchasing the Nagra. If your budget allows, I highly recommend a unit with a separate power supply. You will notice a much cleaner sound with more quiet background in my opinion. Love them both but felt like the Nagra did a much better job of making the music uncolored and sounding like the actual instruments are in my room.