I have a Jay's CD3MkIII and a Teac 701t. I like them both and they sound very similar if not identical through a Berkeley Audio Reference II MQA. However, they are different in some important ways that you may want to consider. BTW I have not heard the Project transport but I didn't consider it due to the rreported problems.
I've had several transports and I expect these two to be my endgame. The single most important factor for me was the manufacturer of the drive mechanism. I had an absolute disaster with a PS Audio transport ($4k retail) that used a cheapo computer drive that repreadedly failed. Junk. I'll never make that mistake again.
Here are some considerations about both transports.
Jay's CD3MkIII
- Top loader. This may or may not be a positive depending on your gear layout. I like the top loading feature.
- The best Phillips drive ever made. It will probably last a lifetime but Jay's has an inventory of spares if you need one.
- Built like a tank and a joy to use. This piece of gear just oozes quality.
- It upsamples by 4X if you want it to do that. Depending on your DAC's filter scheme that may lead to better sound.
- The unit dithers the 16th bit and you cannot defeat this feature. This means that the transport will not decode HDCD disks (they will play fine but the DAC can't decode the HDCD). I have several hundred HDCDs so that's a problem for me. This is the reason I got the Teac as a second transport.
Teac 701T
- Front loader. Built well. Mechanism is quiet and smooth.
- My Berkeley DAC will decode HDCD disks and this trasport plays them no problem.
- The 701T will also play MQA disks (my Berkeley decodes these also). I have bought a couple dozen disks of this format and mostly they sound very similar to their regular counterpart but with some titles there is a big difference (improvement). It may be in the mastering but whatever - it's important to me to have this capability.
- The Teac VRDS drive is one of the best ever made and if yours ever fails they will have a replacement.
If I had to live with one of these I would go with the Teac because of the capability to play HDCD and MQA disks.

