Your post is very good and for me right...
But your criteria are met with some low cost dac...
i know because my dac meet them at 200 bucks and so well i dont need to upgrade at all...
People forget that the dac is one thing but his relation with the amplifier and speakers and acoustic or with the headphone , the synergy factor and the tweaking and optimizing part MATTER the most..
Dac technology is mature now... It is better to invest many thousand dollars in amp, speakers , headphone and optimization than to buy a new dac in many case.. But most people dont know what to do, in the embeddings controls and about optimization; then they think , i must buy another dac to improve my system ... Most of the times it is an error of money placement for a marginal upgrade at best...
if not how can my low cost dac meet all your criteria?
its SQ can be assessed in several dimensions of criteria such as (1) high ends are open, ary and articulated without treads of edginess or digital glares; (2) midranges are rich / full without vocal sibilance; (3) bass is weighty and nimble; (4) width / depth / height of soundstage; and (5) separation of sound sources either vocals or instruments.