I am writing concerning the older M24 DAC, not the newer NM24 (which is listed separately, if incorrectly). Leftovers of this model are still available for $750 directly from Mr. Poon, so reviews are still relevant.

This is, as you probably know, a combined DAC and preamp, both sides using a pair of 6922/6dj8/ECC88s.

I had been a "single boxer" for many years, but eventually tired of the somewhat analytical sound of my Ah Tjoeb modified player, which I used upsampled. I listened several times to the Cambridge Audio 840C, and it was okay, but not a ton better than my existing player. I read about the Monarchy piece and liked the idea of expensive (if older) ladder DAC chips in a simple oversampling (not upsampling) mode. When I heard I could still get a new piece for $750, I bought it.

I was also auditioning an HDMT Havana (non-sampling) DAC at the time, so direct comparisons were fun to make. In my system, I found the HDMT very "organic" sounding, with vocalists especially good, without digital haze around them and "in the room." The Monarchy, although not quite as enticing on vocals, was seriously more linear at both frequency extremes. In the end, I much preferred the Monarchy on most material.

The problem I found with the Monarchy was that the DAC side didn't have enough gain to drive my Rogue Tempest II integrated. So I had to use the preamp side of the Monarchy, which I really wasn't figuring on. Compared directly with the passive pre of the Rogue, the Monarchy was rather "tubey" and colored, and a bit slow. Of course, you can just use a separate preamp, but I didn't want to spend the money. So I read comments on line and bought a Gold Point attenuator for $150. The difference was night and day. Yes, a really good preamp would be better, I'm sure, but this is more than adequate for my system (about 10k purchased on the used/demo market). So for under 1k, you have two really nice pieces of gear. Yes, you now need a good digital cable, so that adds another $200-$300 on the used market. At that point, you are at the price of an 840C. To me, there was no comparison. The Monarchy is a stunning overachiever.

I used to play with these toys at a much pricier level; my fun now is finding good gear that isn't that expensive, and still delivers musical satisfaction. The Monarchy is, to me, the center of a modest digital system that just can't be beat at the price point. I used to own a 2k Classe player - not even close. On decent material, the pasty, flat, cardboard, digitized sound we so typically think is intrinsic to digital playback is just gone, replaced by three dimensional space and instruments that have depth as well as width. I have heard this with other DACS, but they have all been much more expensive, if the preamp side of the Monarchy is considered at all. (I will admit that the Audio gd Ref 7 at under 2k is a better DAC and is also a steal, however).

Can't say enough about this piece. For those of us on a budget, it puts us at the bottom of "hi fi" instead of at the top of "mid fi". The difference, to me, is extraordinary.

I could compare this DAC to a number of very popular DACS. Let me just say this....what a wonderful product I have had 7-8 audio enthusiasts over to to the house to hear this product review three different audiophile recordings and they all say the Monarchy DAC is just wonderful. Try it with some Herbbie tube dampers and WOW!

I've had season tickts to the San Francisco Opera for over twenty years, and have been to maybe 50 different opera houses around the world. I like to think I know exactly how my favorite singers really sound--that is, I have a very definite frame of reference. Nothing in my experience has even come close to this remarkably cheap product in terms of sound quality, depth, and truth. My speakers in one system are Quads and in the other AvantGuarde Unos, series three---both of em extremely revealing. Don't worry about the Monarchy costing so little, just listen to it and you'll be stunned.