Interesting. Listening to various Dacs over the years, many near this price point, I am coming to believe you can get very near the top of the digital tree with a modded DIY option, or buy from a smaller manufactures direct (avoid the dealer 100% markup).
The other really irritating thing, is many Japanese high-end gear is 200% more expensive in the UK. makes no sense. Also many US built DACs are the same in dollars and sterling i.e. 50% more expensive.
I have tiny budgets compared to some, so I have gone the DIY / kit route and bought boutique parts and second hand parts.
However, if I had 20K+ to spare, I would probably buy and end game DAC like the Audio Note Special or the C1 Precision if I wanted SS as opposed to tubes.
Regardless, I am thinking once you get to 20K DACs you are into 'flavours' and the differences are less marked. There is of course the 2 paths: Delta-Sigma and R-2R, that in themselves create another flavour.
The other aspects is a DAC at 20K level needs a really good pre-amplifier section and analogue volume to then miss out the pre-amplifier between the Power amp. That gives a big boost in dynamics and detail (if designed correctly).
That Emm Lab is a bit of a bargain right? I have not heard it, only read the responses from owners. I am thinking the TotalDAC dual is the bargain high-end DAC for 2015, and of course, I have a soft spot for the Audio Note kits..... that new DAC 5.1 looks mighty nice for 5.6K US.