New DAC or New Speakers?

FWIW, I recently auditioned the O96s extensively (with Leben C300, C600 as well as top of the line Accuphase monoblocks) and found them to be really poor with heavier genres of music like hard rock and metal. While they are good with other types I found them to not do well at all with heavier music. 

Speakers

I would do speakers. Nothing changes the sound more than speakers. I’ve had the aero dac and it’s a great dac. You’d have to spend a lot more to get significantly better. And even then a better dac doesn’t always mean enjoying the music more. I’ve been playing with dacs between $3k-$18k and still hang on to my $3k dac. The more expensive ones are better but I just can’t say I’m enjoying the music more. 
 

however I did just get some Fyne F502s’s and they’re great. Actually can’t believe how good they are for under $4k. The 703sp’s are my pinnacle speaker and after listening to the F502s I can see upgrading likely. Curious to hear your thoughts if you get to audition them. I got to listen to a pair at a dealer in California and they were excellent in every area.

@abd1 Thanks. Yes going from Wharfedale Aura 2 to my Harbeth SHL 5+XD speakers was the biggest of all stereo leaps for sure. 

What 3K DAC are you using over the Aero?

I’d say speakers for sure. Much more impact making a jump there. Having had the Audio Note e/lx, which are often in the same conversation as the Devore due to similar designs, I think you’d be happy with the 0/96’s. I’ve since moved on to larger floor standers for more bass and overall fullness. Good luck with whatever you choose.