Looking for a DAC $2500-$4000

As mentioned by @soix , the Gustard R-30 is definitely worth a look. If I was going to spend $3500 right now, I'd give that serious consideration.

https://www.youtube.com/watch?v=_DxFc-v1goI

I have a Gustard X-30 that I like a lot.  I'm using it in conjunction with a LHY ock-2 clock which added a fit of improvement.  I suspect that the R-30 without an external clock would be equal, or better, to my setup, but not enough so that I'm interested in changing to the R-30. The X-30 without the clock is an excellent dac and less expensive than the R-30. 

@jrareform , no upgraded PS. ,Have it plugged into a Furman 8 with peangea PC if I knew it would make any positive upgrade, I would do so.I do have the iFi pro with the LHY BATTERY 2v feeding the Ultra's Ethernet with positive results. Has anyone have any luck with their Ultra & separate PS?

I have a  Cambridge mxn10 streamer and a Topping d90III Sabre DAC. 

Also a Cambridge Evo150 all in one in a separate system  

The mxn10 DAC is musical and smooth but not the nth degree of detail. 
 

Currently using Roon streaming on a PC via dedicated WASAPI and USB to Topping via Topping Driver over mxn10 dac or mxn10 spdif out to Topping.   The difference in detail and musical articulation in general is big, like going from 1080p to 4K high res video.  The Topping then has 3 audio modes, normal, SS for more detail and “valve” which takes a bit of the edge off.   Very useful feature!   Also a pretty good user guide provided.   Topping cost is $900 and typically ships from China.   Reported measurements support the level of performance I hear which is clearly top tier.  
 

Summary

Sound Quality

• Transparent & Detailed: Known for a clean, highly resolving, and analytical sound, bringing out fine details in recordings. 

• Tonality: Generally neutral, with a flat frequency response, though some find it slightly lean or "sterile" compared to more organic DACs. 

• Bass: Quick, tight, and punchy but can lack warmth or weight for some listeners, often described as lean. 

• Soundstage: Excellent depth, width, and layering, with clear instrument separation. 

• Highs: Well-extended with good air and clarity, but generally not fatiguing. 

@meambler   I don’t have experience with the other DACs mentioned above.  I have had the Denafrips Venus 15 for about a year in my highly-resolving system and have been very impressed with its non-fatiguing musicality, large soundstage and big bass reproduction.  It is essentially the same as the older Terminator 12, so you could look at reviews of that model. 

Like live music, it is not clinically analytical/detailed, so if that is OK with you, I would suggest considering it.  It is within your budget, and would leave you $ for extras like a DDC and I2S cables.  Support is through email, takes time because of the time difference between US and China.  They do have a service facility in the US if it’s ever needed.

https://www.laiv.audio/harmony-dac
 

I am currently using LAIV Harmony DAC with the uDDc reclocking in my system.