Holo Spring 3 R2R DAC Review - Punching Up!

The Holo Spring 3 is a truly fantastic DAC punching above its pricepoint, and with some unique features that make it an extremely compelling choice. I can comfortably say I've not heard a DAC this good anywhere close to this pricepoint.
This unit was loaned for review by Holo Audio.
The spring 2 was loaned to me by my friend Koji (ConvinceMeAudio)
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Holo Spring 3:
USA: www.kitsunehifi.com/product/s...
EU: magnahifi.com/?s=spring+3&pos...
Asia / Elsewhere: / wildismaudiohk
HQPlayer: www.signalyst.com/consumer.html
HQPlayer Settings: drive.google.com/drive/folder...
Intro Track: 'Ultraviolet' by Jack Lloyd - song.link/i/1584469027
Testing Tracks:
Bang Bang - Lawrence Taylor - song.link/gb/i/1451064407
Slow Motion - Flor - song.link/gb/i/1467801546
Run Boy Run - Woodkid - song.link/gb/i/1440862611
Time (Orchestra Version) - Hans Zimmer - song.link/gb/i/1452333617
Slow It Down - Manganas Garden - song.link/gb/i/1572340625
Reconnaissance - Mitch Murder - song.link/gb/i/1444368712
The Gospel of John Hurt - Alt-J - song.link/gb/i/886686899
0:00 - Intro
0:45 - Overview and Features
4:18 - IO
4:46 - Internals
8:42 - NOS and OS discussion
13:12 - Sound
25:04 - NOS vs OS sound
27:18 - Summary
29:15 - Spring 3 vs Spring 2
33:08 - Spring 3 vs May
34:50 - Pricing/value discussion
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