I am actively auditioning the Imersiv D-1 DAC. Musicality is one of the key aspects I strive for, although its definition may vary by listener.
I have an Allnic preamp and Allnic amp - both tube-based - because of that brand's fantastic combination of tonality, dynamics and clarity.
My current DAC is the Aqua La Scala II, which to my tastes fits within the same sonic profile and is probably one of the best DACs under $10k.
The Aqua outperformed the Holo May KTE, Lumin T3, Mola Mola Tambaqui, among others in my selection process. I felt pretty happy about my choice until I made the mistake of comparing it against an Allnic D10000 in a friend's system. The Allnic was just on another level: even greater tonaility, clarity, soundstage, ... . Bummer.
Luckily, I was actually able to close some of the gap by rolling the tubes in my Aqua DAC and I truly love it in my sytem.
I am now using the holidays to audition the Imersiv and the new Allnic D15000 DAC at home. It takes a bit of effort to perform immediate A/B/C testing, using the same cables and volume levels, and given the lack of a clear transitive relationship in their respective sound qualities.
My general impression of the D-1 so far is not of a clinical DAC. I find it more musical than the Tambaqui or the Holo May, for instance. While it does not match the amazing, best-in-class tonality of the Allnic D15000, it delivers a LOT of information, including tonal subtleties in vocals and instruments, with great imaging and separation. I would call this 'musical'.
The Allnic and, especially, Aqua DACs sound a little 'darker'. Sade or Tracey Thorn sound perhaps a year or 2 younger on the D-1, but every nuance and inflection is beautifully captured. Meanwhile, bass articulation, tonality, and imaging is the best I have heard on the D-1. The Aqua actually bests the Allnic D15000 in its rendition of deep bass (e.g. Massive Attack, HVOB, Seu Jorge, Spain, some Mingus ...). Tube rolling may fix that. But the Allnic D15000 reigns supreme in the mid range.
I hope to refine my impressions over the next few days, but so far my initial reaction still holds: a collaboration between both brands, with Imersiv's "HDR" digital approach, and Allnic's OTL/OCL analogue output stage would be a true dream DAC and a major step forward for digital audio*.
*Note: I have not heard the Playback Designs MPD-8 or the DCS Varese or the top Aries Cerat models, etc., so maybe better already exists.