I've since changed by mind after being able to find more time to just relax and listen without the pressure of evaluating stuff. The AGD M7 is definitely an upgrade. In terms of technicalities, the AGD M7 equals and in most cases exceeds those of my current reference, the PWD2.
I am astounded by the resolution and clarity of the AGD while still being able to provide a certain "warmth", even though it's not a warm, but rather neutral sounding DAC, if that makes any sense. The bass quality is out of this world. Tactile, textured, amazing pitch definition. Mids and treble are too. I only mention bass because some high-end DACs resort to a warmer or fatter bass to artificially enhance smoothness or provide a vinyl-like liquid sound. There's no much nonsense with the M7. No tricks. It's the real deal.
How much is the price of a PWD2? Just want to reference the price performance of the M7.