NAD M12 DAC

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Has anyone here had a chance to listen/compare NAD's M12 DAC/PreAmp with current DAC offerings?

The price is quite high $3.5k, but given the package it offers (DAC, Phono stage, HDMI inputs for video bypass, crossover for subwoofer and future MDC modules) I am not sure I could go much cheaper with DIY.
 
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