Hard for me to say the m920 is better than the HA-1 in EVERY regard. The m920 doesn't even have balanced outputs. I use my HA-1 with my balanced AKG K812's and my Parasound Halo A21 which has balanced inputs.
If you're only looking for a desktop unit, maybe the m920 is an easy choice over the HA-1, but the HA-1 delivers the same inputs as the m920, but also true HT bypass, better USB connection, a real remote (not pairing an Apple remote), an iOS app, and IMO a better display and interface than the m920.
If your headphones are balanced or you're going to use the preamp capabilities (especially with a balanced amp), and this is going in your living room, the HA-1 is tough to beat and offers a number of features that the m920 simply doesn't. I think the SQ on the m920 wins out, but again, that depends on your chain. I find the fully balanced operation of my HA-1 end-to-end to be a game changer at the price point.