I had the Cary DMS-500, and LUMIN T1, at my home, at the same time, and the Cary killed the Lumin hands down. Not even close. I sold the Lumin T1 shortly thereafter.
IMO, if the DMS-700 is only slightly better than the 500, it will be an outstanding value in DACs.
IMO, if the DMS-700 is only slightly better than the 500, it will be an outstanding value in DACs.