DAC Choices - $5,000 to $7,000


What are the current top DAC choices in the approximately $5-$7K price range (new or used) that I should look at as possible upgrades to my current Metrum Adagio?  Having an on-board volume control is not a factor as I can operate my system either way.   If I wanted to spend more I would look at Totaldac, Rockna Wavedream Signature, or one of the other top-end contenders, but I selected the price range to achieve a sound quality that is consistent with the rest of my system and because I don't want to spend more due to the still evolving nature of digital technology.  I do like the more natural sound (to my ears) of NOS R2R DACs.  So far, I have considered the three below, but none seem to be a slam-dunk upgrade from the Adagio, which still sounds pretty good in my system.  The decision is complicated by having to "buy to try" so that I can hear one in my system.  Maybe now is not the time for an upgrade.  Any thoughts?

  • Denafrips Terminator w/DSP board - Reportedly has the full body/dense tone type of sound I like, but also has a high'ish output impedance 
  • Holo May KTE - Reportedly measures great for an R2R DAC and has strong reviews 
  • Rockna Wavelight - Some reviewers like it but others put it in the middle of the pack for the price
mitch2
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There is only one reason anything is so expensive...it is worth it.  And that is for the listener to decide.  
@fastfreight - I’ve been looking at both the PS Audio DirectStream DAC and the Auralic Vega G2. Could you elaborate on their differences and why you preferred the Auaralic?
I went from a Benchmark DAC2 to the Terminator.  Running it from a new HP laptop over Curious USB and added the USBe-Perfect coming out of laptop.  Seemed to take three weeks to settle in, but I'm very content now going all-streaming.  Quite involving.

Has anyone added a Denafrips Iris or Gaia to a Terminator that they already had? I'm tempted by the new Hermes but not sure there's any problem to fix. Anyone been amazed or disappointed?

One thought, if you go Terminator-plus, you can run a very good clock out of the T-plus back to any of their digital converters and have an end-game digital path. Terminator-plus with the clock driving Iris might be better than Terminator with Gaia for about same cost.