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
@cal3713 6 - My communication from Benjamin was that lead time would be 6-8 weeks if ordered prior to the holidays and as much as 8-12 weeks if ordered after.  It sounds as if the wide range is 6-12 weeks, depending on demand.  If somebody is interested in ordering one, I suggest contacting Benjamin directly so he can provide the most recent backlog update.
The Mystique V3 is posted on the website again. It appears that many owners are trading in their DAC for the EVO. 
@c_avila1 

It is my understanding that the PCB's were re-designed to allow for capacitor upgrades. The PCB's are supposed to be stiffer, for one thing, and if I remember right, he said they were going to be elevated, but I might be wrong. Benjamin said he is going to try several types of capacitors, including "exotic" ones. That's all I remember. That said, I'm guessing that any capacitor on the circuit board can be upgraded.
Okay...

I have to ask even though this is supposed to be a $5K to $7K DAC Discussion. Please bear with me.

Has anyone tried a Topping DAC?

They seem to be all the rage in some circles. Audio Science Review rates its measurements of the D90 very highly:  (https://www.audiosciencereview.com/forum/index.php?attachments/best-usb-dac-review-and-tested-2020-p...) and one very respected tube amp designer from a northern state apparently is using an E30 ($150 brand new) and says it sounds pretty good.

Now, I can understand that power supplies and analog out design are critical and lead to higher cost; but if you can afford a $7,000 DAC, don't you owe it to yourself to try one a cheap one just in case?

Heck, you probably spend more than that taking your significant other out to dinner for no especially special occasion. 

I mean no disrespect, but if you do not try something, how do you know? Otherwise, is it not like Primaluna suggesting that, because their Preamp weighs 50 pounds, it is better than an ARC, BAT, CJ, Don Sachs, VTL, etc.?

Please accept this question as an honest ask.

Thanks for listening,

Dsper