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To me $3500 is WAAAYY too much to ask for a set of ADC with some high quality caps and transformers...RIDICULOUS!!
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If you've found a converter you like as much as, or more than, this one, then sure, for you it probably is too much.
But if you like the sound of it and can't get that sound with any cheaper combination of components, then it may well be worth it. It's certainly not out of line with other high-end converters pricewise.