I may be miss-informed by few people here that Sabre ES9018 is the best DAC chip available today, but more I read it's the implementation that matters.
I heard 'Sabre ESS 9018 is the best DAC' from many occasions as well. But read this multi-DAC review:
http://www.head-fi.org/t/693798/ranking-of-21-dacs-and-dac-configurations-and-why-chocolate-ice-cream-must-die
From this review what I see is that ESS 9018 chip has a critical flaw, which prevents anyone from making a perfect DAC using this chip.
(Hilo ranked #6 on the list, they were using the v5 firmware and USB. From my ears the v6 firmware enhanced the USB performance quite a lot, totally a different DAC. So I would expect Hilo to move up a level or two with the v6, or using AES input instead of USB)