I own the Bel Canto DAC 2, and it is a highly-refined and detailed DAC. I do not have direct experience with the Sony, but from comments read on A'gon, the general consensus is that it is an OK, but not outstanding redbook player. So, I think many would disagree with Thsalmon's assessment of both pieces.
Sony XAE777 CDP or Bel Canto DAC?
I'm on the fence about adding either one of these in my system to replace my Phillips 963SA. Either one of these options should cost about $1500 when you factor in a replacement transport to pair up to a new Bel Canto 2. How does a transport/DAC stack up to the infamous Sony. I listen to rock music only & have a DNA-1, CJ PV10 (soon to be replaced?), Tyler Reference monitors with MIT & DH labs cables.