My vote goes for the Audio-gd Reference 7 or Reference 8 depending on your taste.
Without auditioning it, just looking at the power supply, power filtration, quality of parts and the DAC chips used you can tell right away that it should compare to DACs atleast three times its price easily. Wadia, Levinson, Krell & Audiomat among others are widely considered some of the best DACs in the business and Audio-gd implements a lot of the same technology, parts and concepts in their designs.
The biggest difference I have seen between Audio-gd and the big brands such as Wadia, Levinson, Audiomat, etc. is that the big brands use torodial transformers which in most cases require more power filtration and Audio-gd implements R-Core transformers. It can be argued either way which solution is better.
Edited by sk3383 - 5/17/10 at 6:42pm