I have had the UD-M31 before I got into this headphone madness. There is a night and day difference between a dedicated headphone amp and the headphone out of the UD-M31. I'm not familiar with the UD-M5 but it may be similar, given that it's another built-in headphone out by Denon.
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Squeezebox v3 (FLAC) / Denon UDM-31 > Stello DA100 > (sold my headphone amps) > AKG k701
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