There seems to be a plethora of really good DACs around for reasonable cash these days and even the excellent Young DAC seems to be getting pipped to the post by rivals at half the price. Are things really progressing that fast with audibile improvements or do you think that there's other reasons such as a shift in sampling philosophy or the growing fashion for tubed buffer stages (which certainly sound good if well implemented to my ears)?

What would you offer as the top 5 DACs out there sub £1000 at present and why?

My list would include the following:

Musical Fidelity M1;

Jolida FXII Tube DAC;

Simaudio Moon 100D;

Rega DAC;

Eastern Electric Minimax DAC

Of that list, the MF DAC is possibly the leanest sounding up top but over-all quite neutral and flexible. The Simaudio seems to have been voiced similar to their other kit, slightly fuller than some in the mids and very smooth, not unlike the Rega in some ways (that seems to have slight emphasis on upper bass/mids) but for me, in my system, it'd have to be the Eastern Electric or the Jolida. DACs in general seem to vary only slightly between manufacturers (as you'd have every right to expect) until something comes along and punches your ears with sheer musicality and involvement with "nothing missing". I'd put the last two in that category. Not tempted to venture into DAC territory yet personally as I like what the droplet CDP does but for the cash, a cheap (DVD) transport and sub £1K DAC just seem to make more sense than a high end CDP these days.