Thanks for clearing that up Charley, about the 1704.
John, I'm not doubting the Buffalo32 is a capable DAC. I'm sure it is. But I also know you had your doubts about it before. For what it is I'm sure many people find it to be a terrific DAC and probably a really good bargain. I'd be completely willing to hear it again, optimized as you say.
The Ref1 is really a gem though because you cannot get what is in that DAC in a name brand for less than high 4 to low 5 figures. So comparing it to DACs that cost the same is just not a level playing field. The Ref1 will beat them every time.
Sure, if I had a spare $10K+ to blow, I'd probably opt for a name brand, dual differential 1704U-K dual-mono DAC because it would probably be built to better QC standards, have a more elegant chassis, and maybe more digital and analog filter options. But for those of us who can't yet want that same performance, the Ref1/Ref7 are no brainers. All you need to do is listen to one and you'll wonder why they are being sold so relatively cheap.