Can a off the shelf DAC, if engineered/implemented good, sound as good as a custom DAC?

My time with Digital as a Source, has been much shorter than the Analogue Source I use.

When it comes to DAC's I have not experienced these in the volume I have experienced Phonostages.

I have heard DAC's that are Chinese Manufacture up to approx' £4K, and during some of the periods allocated for DAC's to be listened to, where comparisons between DAC's has also taken place. In these line ups there have been DAC's able to be referred to as a Factory Design and a selection of DAC's which are able to be referred to as custom designs, as is my own non-brand Valve DAC.

It really is a difficult one to call as resolution and dynamics between the different models as a short usage assessment has been identified as being very similar. The real differences are to be found in the sonic traits/voicing. Richness of Tone vs Transparency is easily detectable when present. 

The secondary unknown is if this sonic trait is present in the same measure in another system.

Hone demos are the only way to learn how a sonic trait is presented in the home system and if a very attractive 'synergy' has occurred with a particular model.

My suggestion is to use all recommendations as a shortlist to be found and experienced in use, preferably in the comfort of ones home.   

Strange I am once more posting under 'pindac' , I'll sign out as 'dacpin'.

I'm of the opinion that the output stage is 80% of the sound quality.  What I've seen DAC chips bring to the table are different distortion profiles (sound, not necessarily measured THD+N), linearity and how well they handle Redbook (44.1kHz/16 bit) music.  Of course, a modern DAC has vanishingly low jitter via less expensive very consistent oscillators.

I honestly think we may like DAC's with poor linearity, as they enhance how a signal fades and may give a lot more air.  Around the early 2000s DACs also made a big jump in quality for Redbook, meaning the delta between that and Hi res playback really narrowed. 

@ted_b 

+1 

Tough question as everyone’s system and set up is different

@mclinnguy    Excellent quote by Charles Hansen.

In addition to what other posters have stated - in my revealing system, the SQ from my DAC changes with the type of power cord installed.   What’s strange about that is my DAC is battery-operated.  It should be immune from AC input.  Perhaps, the battery runs part of the circuitry - but not all of it.  Or maybe, the effects are parasitic.   

So, if AC to a DAC affects the SQ, the next question is how clean is the AC power that’s feeding the system?   

- - -

Re: SQ.   Also, add the impact of the digital interconnect.   Let’s not forget tube-rolling for tube DAC’s.    Everything matters!