Best DAC/preamp for under $2K?

Curious to know if it would be better to spend up to $2.5 on a new dac/pre or buy a used dac/pre around $1200 and augment it with something like Audiophelio 2 or a synchromesh.

The list of manufacturers making Dac/Preamps right now appear to be endless.

I have heard the Mtech. I prefer the belcanto dacs.

so what did you end up getting?

Still haven't gotten anything. My system is still in flux, so I'm waiting to get the rest of the system in place before I top it off with the right DAC. I'm leaning towards the Hugo but maybe I'll end up with a warmer tube staged DAC depending on the rest of the system.

I recently heard the SOTM DAC and Pre all in one. With a warmer sounding amp it sounded pretty darned good used as a preamp and DAC which justified the $3K, but just as a DAC there are no doubt better $3K units out there.

Have you considered hegel? The hd25 or hd20 are both outstanding.