In your position I'd bypass the first purchase. Wait 'til you've put aside $1000 and get a Benchmark DAC.
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Audio Note DAC 1 and 2 are excellent used values and sound very good. The DAC 1.x sells used for around 800, typically. The earlier DAC 1 and DAC 1 Signature, both fine units, sell for 500 to 700 used. I've used one with a Marantz CD63 II, Vecteur L 4.2, Cal Audio Delta, and the current Sony DVP-S7700 and all sounded better with the Audio Note DAC than with their internal DACs utilized.