I apologize that it has taken me so long to get back to you. I did not want to write a lot if no one was still reading the thread, so I wrote the first post expecting that AudioCircle would send me an email if anyone responded. AudioCircle did not send any email. I only returned to the thread because Alvin (of Vinshine, the Denfrips distributor) reminded me of it by sending me a WhatsApp message thanking me for posting.
Here are my impressions:
For 8 days I had a Terminator in my house that is on tour here in Italy (the Terminator, not my house).
I was the third on the list to receive this unit and by the time it got to me it had about 300 hours on it, so it was well broken in.
I compared it to my AMR DP 777 SE, which, in my opinion, is a wonderful DAC. In nearly every parameter the Terminator is the equal of the DP 777 SE. Both present a wide deep soundstage with excellent holographic imaging. I am talking about the kind of sound stage that goes, not only beyond the speakers, but beyond all three walls. Instruments and voices are well defined and well placed within that soundstage. Both DACs present a lush sound and warmish sound (but not overly warm) which is very smooth and analogue... nothing digital about the sound that either produces. I can listen to either of them for hours on end (and often do) without ever suffering any listening fatigue.
And while both manage to present lots of detail they remain musical... never sounding analytical.
Where, in my opinion, the Terminator surpasses the AMR, where it truly shines, is in its ability to reproduce the sound of real instruments. Instruments as reproduced by the Terminator are simply more accurate. To me, it seems that DP does this pretty damn well, but the Terminator does it a lot better.
I think I understand the ''why'' of this difference. A vibrating note produces a fundamental tone to which are attached harmonic tones which are higher in frequency and more subtle than the fundamental. It is these harmonics that the brain picks up and uses to distinguish the differences between instruments. They are what distinguishes the sound of a violin from a cello, from a guitar... an oboe from a clarinet, from a saxophone... etc. And, more significant to our purposes, it is that creates the subtle differences between on violin and another, one cello and another, etc.
I say ''more significant to our purposes" because which of us doesn't have an DAC that let's hear how totally different instruments sound from each other. But a DAC that let's hear the subtle differences between a Strad and a Guarneri...?
Well, this is what we hear when listening to real acoustic instruments, non amplified, in real world settings.
As I hear it, the DP seems to produce the fundamental note with less of those harmonics... The Terminator produces the same fundamental note with more of those harmonics... thus gifting me with a more complete sensation of hearing a real instrument.
And that, for me, was a very satisfying... an emotionally very satisfying... experience. The Terminator provided me with a more emotional connection to the music.
And that is why I had to buy one.
While I had the Terminator here, I listened primarily to it, using the AMR only when I was effecting a real comparison. The Terminator would not let me read while listening. It demanded that I pay attention. And it was stronger than me... I had to obey... even up to 3 or 4 in the morning.
And even then I had a hard time tearing myself away….
''just one more song… just one more song!''
You may see this same mini review (with some differences) on other forums because rather than write the same thing over and over again, i just cut and paste. I first wrote this on Head-fi forum.
I have just been informed by Alvin that my Terminator is on its way and he sent me the DHL tracking number. Good thing too because I have been in a constant state of depression since the demo left my house. Who knows how bad it might have gotten if Alvin had not sent me that good news. I think I can hang on til it gets here... at least I hope so!

All kidding aside, you might want to check out the third page of the review that Srajan Ebaen of 6MOONS is presently writing on the Terminator. See what he told a reader about purchasing one.
The review is not yet complete. It is still in what Srajan refers to as the ''Preview'' stage. I wrote to him telling him how much the ''Terminator community'' appreciates that which he wrote so far. He wrote back saying, ''It'll still get better..."
A friend here in Italy wrote that two of his friends came to his house to hear it. One owns a dCS Debussy and the other an MSB Platinum IV. They brought these with them to be able to compare. My friend reports that they could not believe their ears. They left his house shaking there heads in wonder at that which they had heard. And they were invested in the DACs they already owned (and paid a lot for)
That same friend, who knows (for good reason) all the Terminator owners here in Italy (so far there are 10, but three others have ordered one after hearing it) reports that owners of Lector Digitube S192, Lector Digicode 2.24HZ, Schiit Yggdrasil, AMR DP777SE, (me), dCS Debussy, have sold their DACs and bought a Terminator. There is a thread on Facebook about it. A lot of it is in Italian, but many have reported in English as well. If you are interested, check it out. The one I am communicating with is named Claudio and it is he who arranged for Vinshine to send a Terminator that could be sent out on tour.
Maybe that's why they call it the Terminator... it does in all of those other DACs...
The Terminator is one hell of a DAC folks... and the price is phenomenal.
Of course, all of this is hearsay and you won't know if any of it is true for you until you try one.
