the audioquest dragon fly's are very good for the money.
IMO the Parasound ZDAC sounds a lot better than it should given the price. I don't have a lot of experience with dac's though.
Parasound zdac, Simaudio 100D, Peachtree Dac-itx - all under $200 used...
I agree with the recommendation of the Simaudio 100D. It's great sounding, exceptionally well built and a bargain at its used price.

I have one in my office system and am amazed by what it contributes to the realism of the sound from a computer based system.
Peachtree! Big Bang for the dollar!
I like the ifi micro idac2.  I don't think I paid a lot for it, and it will play DSD files natively.
I am going to get a new Oppo disc player and use the DAC in it for a while.


Why would you get disc player just to use its DAC? If you don't need a transport, for a relatively modest price you can get a Cambridge Audio DACmagic Plus. I've been using one with my old CD player and its pretty decent. I just replaced the wall wart that came with the unit with a regulated linear DC power supply and it gave it a nice little boost in dynamics.  
I have a DACmagic Plus now. I hear there are better DACs out now, including the Oppo Sonica, which will also play CDs, SADs, and video.

less clutter; more SQ

Oppo Sonica doesn't have a transport when I last looked it up but most probably is a better DAC particularly for hi-rez files using USB or SACD sources. The dual Wolfson chip set up in the CA unit is supposedly decent for PCM format files. No personal experience with Oppo, just heresay.

Wait for the new iFi Micro iDSD with MQA capabilities -

Hi Randy,

I do not own a Sonica DAC but can assure you that it does not play SACD (I assume that’s what you meant by "SADs"?) and does not do video.

SACD is a proprietary DSD format that is designed to protect against copying raw DSD files (pirating). Same with DVD-A, BluRay audio, etc. Some players (not DACs) like the better Oppo’s and my MW Sony 5400ES do offer HDMI output to allow transfer of raw DSD files from SACD (prior to D to A conversion) to an external processor that has the required HDMI input connection and HDMI copy protection protocol to avoid unauthorized copying of the raw DSD file from SACD. The Sonica is not one of those external processors.

The Sonica DAC does not have an I2S input (often uses the same connector as HDMI) so there is really no reason to be even mildly confused about its input capabilities from a SACD player with an HDMI DSD output.

The Sonica DAC does offer an impressive array of resolutions to utilize during playback via 1) streaming (which you proclaim to abhor) from a suitable streaming device, 2) purchased and downloaded hi-rez files, or 3) from a suitable storage device/server that already contains such content.

Maybe a little more time learning about how all this works would be a good idea before settling on any of the more technically up-to-date DACs out there.

Best to you Randy,
Dave
I agree, for $89 looks promising. 
I'm interested too. I'm looking to upgrade from using the Sonos internal DAC. Any sub $200 units that people have tried and liked?  The Schiit Modi 2 Uber looks good too although it doesn't do DSD. 
I used Parasound Zdac and Peachtree DAC-itX both quite an improvement. I've seen both here for $175. I think anymore is wasted on the Sonos.