I am fascinated by DACs and the shifting sands of today's digital-audio marketplace. This month, I am reporting on two more DACs, both made by Denafrips: the $4498 Terminator, until recently their flagship DAC, and the $768 Ares II, the company's least expensive model. Like the HoloAudio May DAC I
described last month, both Denafrips converters employ R-2R conversion schemes, and both render recordings into direct, unprocessed sound.