@sajunky Thanks for your insight. Have you heard the Holo May? Chord Dave? Just wondering how sound would compare to Kingwa’s latest offerings? Same with Denafrips. Most reviews I’ve read are several years old.
Only Holo Springs 2 l2, for few hours and it wasn't a direct comparison on the same equipment. I loved sound of R-28 2020, please don't ask me about newer versions. I didn't like Springs, it was something strange associated with music. Better than a good DS, my old brain pickup false harmonics of noise shaping, fatigue comes in few minutes. Springs didn't bring a fatigue, but grass was artificial, maybe even enhanced, but not natural. It is seen on a public ovation, where direction of a various sources is not positioned well, bluring sources. However Springs works well with computer generated music, such added content doesn't harm, people may like little bit of spice anyway. It explain popularity of Holo among those who previously owned DS stuff.
Chord Dave: I didn't hear, only cheaper models, sound is to dry for my taste in all cases, I hear Dave is no different. Denafrips? Very positive. Laid back, real details and no serious issues. Perfect for listening music in background, not involving during critical tests. I would buy Ares if I didn't get a Nobsound 8xTDA1387 first. LOL I am a ladder guy, my first CD player decades ago was based on PCM63. At that time I could afford dCS or Electrocompaniet DAC. I thought that technology has improved, I was wrong. Once I got a Nobsound, my focus was back on R2R converters. Seriously, I almost bought Ares.
I know it is not what you were asking for. I do service people in their homes and listen to their high-end equipment that frequently do not impress me at all. When coming back home, my R2R-11 produces high-end natural sound. It is losing only in complex music like a choir and orchestra busy passages, but for this I need a better Audio GD DAC, nothing else.