I was going to say the same thing as
@jkim. Having tested and compared C200 Pro, DL200 and RAW-MDA 1 in the last week, I think I'm somewhat qualified to comment...
First off, C200 Pro vs DL200:
- Both have the same DAC chip, so should sound similar
- C200 Pro has, IMHO, a nicer form factor
- DL200 has a 7 segment LCD with white backlight that is kind of bright even at the dimmest setting; C200 Pro has a 7 segment LED display that can be made dimmer
- DL200 has the headphone gain setting you mentioned
- C200 Pro has had stability issues, but they may have been resolved with a recent firmware update discussed elsewhere on this forum
- DL200 is slightly cheaper
That, to me, put the DL200 on top, but I felt that the benefits of the RAW-MDA 1 over these two were worth it. Those were:
- Better display
- Nicer form factor (except for the control knob)
- More inputs
- 2 x ES9039Q2M DAC chip; maybe helps with channel separation?
I'm happy with my RAW-MDA 1, and paired with with a Topping PA5 II and Klipsch RB-41 IIs (which I may replace with something better at some point), and Oppo PM-3 headphones.