I've owned all 3. My personal preference was DAVE > M1 > MSB. The Analog DAC is more rounded sound than the Vega - it is really smooth and doesn't have the digital grain and harshness. It is closer to something like a DP-777 in its signature, warmer, more lush and relaxed. MSB tuned to the DAC to sound, well, analog, and they did a very respectable job. One thing to consider is the M1 can be had for a (relative) song and dance VS the other two. Another thing to consider is what else is in your chain. Are you using the DAVE as a DAC+AMP or are you running it into an amp. Are you doing the same with the M1 and if so, is the amp a balanced amp VS single ended. Maybe you can tell us a bit more about your system as a whole.