My Asgard 2 just arrived. Compared to the Pico DAC/amp, it sounds a little colder, but also more laid back. Highs aren't harsh, details still very audible. Soundstage is wider (I guess this is why it sounds more laid back?) and instrument placement and separation is better!
From memory (I've sold the Vali), Asgard 2 sounds better in all the aforementioned areas.
So, just as a rudimentary ranking: A2 > Pico > Vali
Curiously, the Asgard 2 ins't that much louder than...