Thanks for your reply. I figured out that the 130mw + 130mw for the N3 is per channel, so same as the m2s. The voltage regulator thing is what's throwing me off.
I'm 90% sure I want the Shanling m3s. It provides more power in balanced than single ended. As you stated, there is always a compromise or two with every DAP. With the m3s, it's no streaming or on board storage. I'm okay with neither. I only have three cans I could use balanced, and I don't use IEMs. I'd have to source separate cables cables for all 3, which means another 300 plus bones. That combined with the idea that I'll get spoiled by balanced, I'm afraid I won't want to listen single ended.
So essentially, I just need to decide between the m2s and the m3s. I much prefer the UI of these over the N3. My hardest to drive headphones is my HD 58X, and I would imagine either of these would do the trick. If I go with the m3s, I can see the rabbit hole getting deeper. I'd still like to get a nice, balanced planar down the road.