I have been waiting for a dac/amp combo or AIO for quite sometime. The ref 10.32 wasn't exactly what I wanted. The amp was ok, the annoying thing was the volume control was not a knob, yet buttons!! No way. The master 11 is kingwas newest creation and I would highly recommend you give it a chance and be confident you made the right choice. Based on the premise your headphones are all balanced and you don't care to use SE. I would assume you want the master 11 to actually reap the benefits of its balanced output with 4 pcm1704uks. It's approx 17x17 so it takes up a lot of space. If you have SE terminated headphones... The C2/Dac19 might be nice, it's taller yet less size of footprint. Likely you will have enough power for most headphones too. Although the amp in the master 11 is so awesome, it's future proof for any headphones you might want to use. Minus electrostatic of course. But after listening to some he-1000's ,with a norne cable, and feeling a loss of sense that I was wearing headphones... I was so impressed with the euphonic sound and full immersive sound. It's hard not to get lost in the moment. I tried a lot of headphones at the meet this weekend. Also the audio zenith pmx2! That was very impressive! The soundstage wasn't as big as the he-1000's yet I did enjoy them very much. I am somewhat ruined after hearing the he-1000 and m11's synergy together.