Thanks for your early impressions. Nothing there is putting me off, that's for sure! I spoke to my dealer yesterday (hoping they'll get mine in any day now) and he was telling me about the time he'd spent with Hugo. He, too, was very impressed. He believed the Hugo held up very well to comparison with much more expensive DACs and headphone amps. Mind you, he was hardly going to tell me I'm wasting my money...
I agree with your comments about the AK120. It's a super little device (and so it should be for the price) although I do find its sound signature to be somewhat leaner than the DX100 and HM-801. The AK120 is given more authority when partnered with the Meier Quickstep (a very nice little amp) and I'm hoping Hugo will improve upon that combination noticeably. AK120 + UM Miracle does make a brilliant on-the-move combination, however; very small!
Really excited about the Hugo. I just can't wait!
Just my $0.02 I don't think the ak120 is in the same league and no amount of amping will get you to the Hugo's level. I suspect this thing has plenty of juice but have not tested with headphones - I wanted portability so iems are it.