I've heard from a few owners who did the upgrade and love it. I don't know the exact nature or scope of the upgrade they did though. Can you do it in stages?
MDx - $1250 - provides for native DSD256 with USB, and greatly improved Master Clock Sync.
M1 Series 2 - $2500 - replaces most of the chassis parts to larger ones to house and the larger power supplies that are both found in the M12/21 products.
SE upgrade - $1000 – adds stillpoints, hard wiring, fuses removed, and resetable fuse added.
I suggest you call Bricasti Customer Support and ask them to review the various upgrades to the Bricasti M1 DAC that includes their comments on the sound quality improvements. My calls to them have been very helpful.
I believe their current model is the Bricasti M1 Series II DAC.
Please ask Bricasti about this current model and the cost to upgrade your version to this:
The Bricasti Design - Model 1 Series II D/A Converter
The M1 Series II introduces a new look and feel to the M1 series of products and encompasses many elements of Bricasti Design’s vast wealth of experience engineering precision D/A’s to transform the M1 with the audio purist in mind. The M1S2 is focused on simplicity of design and includes a host of new performance milestones including our latest MDx processor, new higher current twin linear power supplies with larger performance capacitors, all fit into a handcrafted chassis milled from solid aluminum that stands taller in size fitted with the same M1SE feet as standard.
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