How not to buy a DAC -- an audiofool journey

I think that’s a very interesting audiophile journey, more than most: to live with a true "summit-fi" component (the Nagra), then a full reset to the bottom ($500 DAC), and then working your way back up again. Where will it land? How big are the perceived performance gaps at the various price tiers? How much is sonic preference versus absolute quality/accuracy level?

Then I was disappointed to see none of this has actually been concluded/written yet, but hopefully that part comes to find me again.

I don’t find as much variance between DACs and digital transports as I do with analog gear (where I have much more experience), but I can still have very strong reactions and preferences in this space. When you said you hated the cheap DAC, I know that feeling lol. 

Audiofool, I like your writing skills.

A word of caution at large:

UPGRADITIS isn't covered by most medical insurances.

Costly decision making based primarily on $$$$s and emotion can be very risky business indeed.  Not my idea of fun.

Thanks @zlone  @mulveling . I didn't want people to go all TL;DR (too long; didn't read) on me so broke it into two parts.

Might be better to read the sequel than for me to post it, but that's where I curse the audiophile in me, for jumping to the summit too quickly.

@essrand you got me on the edge of my seat.  Do tell your thoughts!  That's a stacked list of DACs.  If you like hyperrealism throw the T+A DAC 200 on the list :)