Has there been a significant upgrade in DAC technology, specifically in AVRs in the last 5-10 yrs?
The reason I ask is that many people fall for the placebo effect, thinking that $400+ external DACs provide a significant sonic upgrade. I have a 10 year old Yamaha receiver and I can honestly say that my external DAC does sound better at all sound levels (like 20-30% better).
Fast forward to 2013. Are modern mid-level AVRs equipped to rival many Sub $500 DACs? Has the performance to $ ratio decreased?