From a Review..
"It did not take me long to discover that the Calyx Audio Femto is an excellent sounding DAC and very competitive with the other high end DACs I have reviewed at this price point. The soundstage of the Femto is wide with perceivable depth that I would rank as very good when compared to most other similarity priced DACs. The Femto has an upfront presentation with excellent detail and focus. The sound is slightly dry with a greater emphasis on fundamentals with less emphasis on the overtones with a short decay. The DAC is quite free of digital artifact hardness and definitely avoids long term listening fatigue. Both macro and micro dynamic contrasts were very well reproduced with the Femto."
"Likewise, the Femto sounded more forward than the Simaudio Moon Evolution 650D ($9000), which I reviewed earlier this year and found to be pretty much a statement-level digital source, if slightly less upfront than the Eximus DP1 ($3000), which is quite lively in its sound. When components’ sounds differ in this way, it’s hard, if not impossible, to know which is "right" -- but after listening to many recordings through all three sources, I suspect that the Femto and the DAC 24/192 were the most neutral; also, their soundstages began right at the plane defined by the speakers’ front baffles and extended rearward from there."
And back to waiting for the M..