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Seize the day! Don't wait for tomorrow. Here's a new one: Morningstar Audio Minimax DAC Jr. has ESS 9018, USB, DSD, SS output, $850. http://www.morningstaraudio.com/product/minimax-solid-state-dac-junior/
I bought my Teac UD-501 (Double) DSD Capable DAC (http://www.teac.com/product/ud-501/) new for a secondary system for under $800 new from an authorized dealer over a year ago.
There always comes a time when audiophiles catch themselves listening to music because it is "hi res" or "DSD" instead of music they actually love. 99% of music I love and music I own are STILL 16/44.1; therefore, a DAC's performance with 16/44.1 is still the major consideration. Personally, I think there is too much emphasis being placed these days on DAC's and DAC chips when things like speakers/rooms make way, way more contribution to the final sound quality IMO, What this country really needs is a "stellar/future-proof $1K" speakers.
I bought my Teac UD-501 (Double) DSD Capable DAC (http://www.teac.com/product/ud-501/) new for a secondary system for under $800 new from an authorized dealer over a year ago. Can't really complain about the price/performance. I heard it at the 2013 Capital Audiofest in the Stack of DACs (http://www.stereophile.com/content/capital-audiofest-day-two-part-one) in the everythingaudio.net room and thought of all the DACs (in the room) it was the best for PCM (and was not the most expensive).
I am so with you!!! But just to stay on topic and contribute, this reviewer found under $1,000 DAC solutions (even under $500) completely "livable" and they all do Hi-Res: http://www.positive-feedback.com/Issue66/computer_audio.htmThe one that is currently peaking my interest is the ifi micro iDSD (with iUSBPower): all formats (PCM768, 2xDXD, DSD512); versatile headphone amp; optical, coax, USB inputs; many other useful features; good sound; clean power; compact. Yes, 99% of my collection is Redbook, but future proofing is a good thing.
Another person whose hearing/judgment I trust highly has spoken highly of this DAC. This is where we get into the "major manufacturer entry" into the DAC world. Could the new Marantz DAC equal the TEAC at a comparable price? Better it? Is another similar DAC just around the horizon? At the price point, there seem so many entrants, with more each day. It's hard to know whether to move forward or wait.-dB
Micro iDSD owner here. This DAC delivers as promised. It power my IEMs without a problem. It drove the Audeze LCD-XZ with ease when I tried them out at CanJam. Lastly, it just kills it when I plug it into my home stereo. I set it to "Direct" mode to handle all volume control via an app. You should give it a try OR wait until the Mini iDSD comes out. It will likely be ~$1,000 with 4 DAC chips instead of 2 as in the Micro.