Here’s mine, entirely subjective and what resonates with my tastes, rather than what is the absolute “best” DAC :
1) Chord Hugo / TT / Benchmark Dac3 - Hard to choose! Great subjective resolution & insight in all of them, but not ‘in your face’, organic, superb tone, superb dynamics. All offer an absolute steal on the used market now for either. I’d place TT about 10% better overall than Hugo. Technically TT2 is better, but I find the Hugo/TT more relaxing, organic & involving overall. Dac3 is slightly better balanced top to bottom for me, and more ‘solid’ in terms of its performance, less apparent depth than the Chords, but (possibly…) more accurate. Dac3’s bass depth and sense of tonal weight (i.e. grand piano!) in particular is incredible. I love them all frankly! Highly subjective at this level.
2) Chord Hugo TT2 - Superb resolution and involvement. Gorgeous build & looks. Upgradeable with the M-Scaler, at a price… Subjectively, not quite as enjoyable overall to me as those at no.1.
3) Chord Hugo 2 - Astonishing insight for a portable dac. Slightly “bright” (VERY slightly) to my ears sometimes, but highly involving and nuanced. Superb sense of acoustic space and depth.
4) Naim DAC - Hugely enjoyable listen, really gets into the groove when the music calls for it. Great soul & involvement. Not as good as the Chord DACs on Classical or Soundtracks, but more fun on Rock, Indie, Dance etc. A bargain in the used market. Better still - it is said - with an external Naim PSU… but they always say that
5a) Marantz HD-DAC1 - Fabulously involving listen on all genres. Reminds me of high quality vinyl. Can relax into the music. Not as detailed as newer DACs, but easier on badly mastered CDs. I still rate this highly, and love the hefty build quality and design.
5b) Naim DAC-V1 - 80% of the Naim DACs performance, with a superb headphone stage too. If you can find one with a display that hasn’t faded, still a superb headphone amp and DAC. Great straight into a power amp too. Lovely build.
6) Chord Mojo - Still an astonishing music maker, particularly for its size and price. Just a “little” too warm for my tastes, but superb overall.
7) RME ADI-2 - Very detailed and a hugely impressive range of features. However I seldom found myself really involved with the music in the same way the DACs listed above did. Left me feeling somewhat detached from the music.
8) Audiolab M-Dac - Lots of detail, and a great user interface. Sadly I found it too analytical at the expense of musical enjoyment. And the less said about the business ethics of its designer the better…..