A DAC that crushes price vs. performance ratio

Agree with everything that you said Charles. It's very human to share your knowledge and excitement, and that is one of the main purposes of these forums. 
I contacted Mike Kay on Saturday via email, and received a prompt response. I am really interested in this DAC, and I'm getting ready to sell a few things in order to get it.  

Hello Roxy54, 
 Teajay used the Concert Fidelity DAC as his reference source for quite a long time and consistently preferred it to other highly esteemed DACs. Granted it's just one man's opinion but it does provide some means of a comparison/reference  point. I've heard the Concert Fidelity DAC in several different systems and can attest to its terrific sound quality, 

That teajay finds the Lab 12 DAC1 SE equal or even better sounding is at the very least a notable development given that  it is roughly 1/5 the cost. If you do decide to purchase this DAC let us know your listening impressions. 
Charles 

Regarding Teajay's credibility as a reviewer, I can add a data point based on actual recent experience.  I very recently purchased a Pass XA25 amplifier (from Mark at Reno Hi-Fi, who of course was completely wonderful to deal with), motivated in part by the glowing reviews and comments it has received from Terry and many others, and in part by the fact that my VAC Renaissance 70/70 amplifier developed a problem and is back at the factory for repair.  Although I've had the XA25 for just a bit more than a week I can say that in my system, at least, the detailed characterization of its sonics Terry provided in his review were absolutely spot on in every respect.  And in fact were more focused, meaningful, and accurate, IMO, than the comments in the comparably glowing review Herb Reichert provided in Stereophile.

Thanks for your excellent review, Terry; I expect to enjoy this amplifier for many years!

Regards,
-- Al 

Thanks Charles and Al. I have always felt that I have to trust people at some point without rock solid confirmation. I believe that he is telling the truth, and I intend to buy the Lab 12 as soon as I sell my Audio Note Kits 2.1 which I have loved for several years now, and  a couple of other things. 
I don't know how long that will take, but I will be sure to give my impressions Charles if/when it all works out.  

Hello Al,
I’m not surprised that you find the Pass XA 25 a very good match with your efficient and easily driven Daedalus Ulysses speakers. Is the Passgoing to replace the iconic VAC Renaissance 70/70 or will you retain both? Pure class A minimalist circuits (tube or transistor) consistently produce a natural high quality sound.
Charles