It will take a few days to get round to the streamer

So it passes the Dream Theater and Zero Hour test John? 

Awesome ... Sounds like the system is properly coming together now.

Nice! Will be very interested is your listening analysis vs. the Gustard A22.

I'm interested to hear as it settles, how it presents

Great news John, l hope it delivers the sound your after. Have fun burning it in!

I just read Sandu Vitalie's review of the R26, recommending it as the best R-2R ladder DAC below $3500.
Wow John.

The Gustard R26 DAC


Introduction
I have been worried on purchasing an R2R DAC after reading reviews on the Denatrips and Holo DAC’s. I thought they probably would not appeal to the rocker in me. It was not until I heard the Rockna Wavelight that I changed my mind. The plan was to save and save until I could purchase one. A 15% sales increase changed my mind.
I then decided to wait for the latest AKM chip-based DAC. But a description “Sounds like velvet” put me off. Too much in the smooth side was how I imagined the sound to be. So, I just thought it would take time for me to purchase a new DAC.

Build quality
This has a new case but same dimensions as the A22 DAC. It feels a bit heavier than the A22 and has a bigger display that turns off when listening to music. At the back it has a whole bunch of connections Inputs USB AES SPDIF Optical and Ethernet. It also has an input for an external clock. I have chosen Black to match my other equipment, but I like the design of the silver unit. It can go either XLR or RCA out.
Internally it has two power supplies, one for the analogue section and one for the digital section, this might explain the extra weight of the unit. Basically, similar in design to the X26pro but with a ladder-based approach rather than the sabre chip. Looking at the pictures it looks well built with quality parts. It has a K2 ultra-low noise clock with a Femto Clock to ensure low jitter and quality discrete components.

My DAC Background 
My first DAC was a PS Audio digital link 3 and have been through most of Stans Beresford DACs which offered good value for money and few Chinese DAC ‘s including the Topping D70 and the Gustard A22 which has been in my system for about two years.
The A22 is a nice DAC. It many ways it reminds me of Caiman but with more detail and depth. A sound that is easy to live with, no nasties in terms of highs that hurt the ears, but detail enough to give a convincing feel to the music.
The R26 present music differently in terms of detail retrieval, bass impact, separation and harmonic clarity.

So how does it Sound
I guess compared to the A22; it has more balls. I never felt the A22 could not rock; it is just that the R26 has more impact in the bass and mid’s, but it never overwhelms me. The treble has more detail but does not become harsh. However, the real surprise is the improvement in harmonic detail. This adds a new dimension to my system. It has a good sense of coherence. I could see Jules liking the way a violin sings, and Martin would like the way it controls bass. The music has a real sense of ease, this dose not mean that it sugary, far from it. Here it means that I lose track of time, the music just flows in effortless fashionI feel the dynamic swing. It sense of swing is excellent. For me, it just allows me to sink deeper into the music. It copes well with my music and does that wonderful trick of pulling new information I never heard before.

I have not tried the streamer still waiting for some cables before I give this a try. I am not sure what to expect from it as a streamer I have no real expectations.
I am not able to assess NOS as I do not have a balanced preamp. I might get a Topping A90 discrete when I have funds.

Best DAC under £3500. Who knows? I just have not heard enough DAC's to make an honest comment. Has it lived up to my hopes…. yes, it has.

What next
Audio magic fuse if I can find one to try internal to the DAC.
An external Clock at some point.

Digital front end
Ifi Zen Stream (two cables going to the long aucharm)
USB out to R26 with a Gustard supplied cable
R26 on four Black Ravioli
R26 has grounding to RTZ 2 via 3 cables.

Power Amplifier
XLR Temple monos with supercharger

Speakers
Gold Note A3

Yes, I am liking it