i have been through the gamut
short summary:
chord dacs (2qute and qutest and hugo tt2) are very rhythmic/dynamic (tremendous PRAT), superbly clear/transparent/’alive’, throw a highly specific and palpable image - they are outstanding in that they accomplish the above without any trace of grain
good r2r dacs, ideally with tube output (mhdt, audio mirror) sacrifice a bit of the crystal clear and dynamic nature for greater warmth and body, especially with voices and acoustic instruments - the imaging gains depth even if the outlines become a touch softened - overall, many feel the presentation is more relaxed/natural, if slightly less obviously detailed and ’hifi’
so it depends on what you want and (more importantly) what your system needs in order to find the right balance
short summary:
chord dacs (2qute and qutest and hugo tt2) are very rhythmic/dynamic (tremendous PRAT), superbly clear/transparent/’alive’, throw a highly specific and palpable image - they are outstanding in that they accomplish the above without any trace of grain
good r2r dacs, ideally with tube output (mhdt, audio mirror) sacrifice a bit of the crystal clear and dynamic nature for greater warmth and body, especially with voices and acoustic instruments - the imaging gains depth even if the outlines become a touch softened - overall, many feel the presentation is more relaxed/natural, if slightly less obviously detailed and ’hifi’
so it depends on what you want and (more importantly) what your system needs in order to find the right balance