nice write up joe !
i've had my ud-301 dac longer than i've had any single piece of kit i've ever had, except for the wadia 121 i had and loved, but i think this is better, 
much better , you nailed it,the wadia retailed at over $1200+ when i got it, the teac, i got for $350(warehouse) off amazon. 
i see right now, a new black one can be head for $300 ! stunning bargain 
i agree wholeheartedly , the teac sound is smooth, a slight touch of warmth, but detailed, and well controlled top to bottom. killer !

Not surprised by your impressions. I own Teac's reference CD player (PD-501HR) and find it really impressive as well, whether as a stand alone player or spdif out transport. Thank you for your detailed, informative and whitty survey.

More confirmation there is life outside of ESS!  The new AKM DAC's are finding themselves at the heart of several top flight pieces of gear.  
 
Thanks for the review!

Now you tell me!

it is great for the price. audio quality bar 100% really depends on what you compare it to. the gear you list i agree. a $15,000+ dac it is not of course. however it is as good as some dacs twice it's price.

Nice Joe! I enjoyed this. 

@MattTCG Thanks man. Just trying to keep it real.