The SoulNote D1 MKII DAC from Japan. My Review.
By Steve Huff
A few months back I had the pleasure of reviewing the new SoulNote D2 MKII DAC and the new A2 MKII Integrated amp. These pieces had a lovely, airy and sort of light-footed sound and I mean that in the best possible way. Open, transparent and holographic with a touch of sweetness and bass impact. Not the last word in beef, meaning, these were not overly warm or full bodied sounding pieces but in my opinion had more of a refined audiophile kind of sound. I was impressed by these two that sit in the mid lane at SoulNote and my only niggle was the strange build quality, which SoulNote says is intentional for sound quality. After hearing them I figured they knew what they were doing as they did indeed sound gorgeous.
Well here I am again with a new SoulNote piece and this time it is the starter DAC in the lineup, called the D1 MKII. Thanks to the Music Room, this DAC showed up to my home ready to make music and to be evaluated for a possible review. I have been on a DAC kick lately to try and finally discover just how much different a great DAC can make to my system. I have been testing low end, mid tier and high end exotic converters over the last 2 years or so. It has been eye opening.
The D1 mKII

Some DACs are warm and juicy, some bring air, some bring holographic staging and some are super immersive allowing you to swim inside of the soundstage with your eyes closed. Usually the more affordable DACs, or the R2R DACs, have been of the warmer variety with the most immersive sound coming from the higher end boxes. I have been trying to find a DAC that is not so crazy in price yet brings immersion, clarity and air but with body and soul. It’s not been easy but I had high hopes here as even The Music Room calls the D1 MKII a “Giant Killer”. I try not to use that term as it is very rare to find a piece that costs less but performs to the levels of the high end, so we will see.
My reference DAC for quite a while now has been the exotic level Audio Mirror Wave and the high end Imersiv D1. These two are super refined, expansive, immersive powerhouse pieces. Honestly, these are the best DACs I have ever heard but at $22k for the Wave and $12k for the Imersiv D1 these two options are far from affordable. How would this new $4,550 SoulNote D1 MKII compare? These are the kind of things I have been trying to learn. If they are better, I mean the big money DACs…how much better are they really?
For starters the D1 MKII is just a DAC. Meaning, it does not have a pre-amp function so it is meant to be placed in between streamer, preamp and then amp or direct to a streamer and then integrated amp. No volume control here, just a slim profile metal box.

The Build
The SoulNote D1 MKII is not what I would call “high end” in build. It has a basic black metal casing and back but the front is where SoulNote made it look nice, and it does look very nice from the front. The metal casing is sort of thin, and can be pushed in with your finger a bit. It doesn’t scream “this is a high end DAC” when looking at it but sadly….these days $5k is not considered high end in the audio hobby. I would never expect a $5k DAC to be built like a Mercedes and sound like a $20k DAC so compromises have to be made and for me, I would rather see those made to the cosmetics rather than sound.
This is the starter lane in SoulNote, who does indeed make high end audio and this is the one you may want to start with when going to a high end brand like SoulNote. Usually the more affordable pieces from high end brands bring the same flavor of sound but maybe with less refinement or richness.
The $849 LAIV Verse.

The interesting thing is I also have a DAC here from LAIV, the Verse (See it above). It’s a preamp, DAC and head amp but the DAC inside of this small all solid metal enclosure is an R2R and yea, it has a very solid metal case, though it is tiny and much smaller than the size of the soul note. It also has quite a different sound but the LAIV comes in at under $850, so I will compare that DAC to the D1 MKII as well. Why not?

Why SoulNote?
I have to be honest here…I love the name “SOULNOTE” as I love soulful products, or audio gear that feels alive, as if they have a soul. I usually call a sound that is a bit warm, fluid and with body “soulful sound” but the mid tier D2 series of SoulNote gear doesn’t fit my description. Instead from what I have heard of this brand they create a sound that is certainly alive in sound but it seems they want to focus on things such as transparency, soundstage width and depth and airiness in the treble. This kind of sound has soul as well, just different and more to the tastes of those who like detail along with a very open sound. It is more of an “soulful audiophile sound” fr those who want to hear more inside of the recording while retaining some beauty and immersion.
Made In Japan
SoulNote is made in Japan, which is good. Many of us in this hobby praise audio gear from Japan. History tells us Japan knows how to make great audio gear, just look at Accuphase. Legendary but very pricey indeed. So for those who want HiFi from Japan, a great place to start is SoulNote as they are beautiful in design, theory and operation and also made in Japan. They are also more affordable than Accuphase in the USA.
SoulNote has three lines that go up in price as you climb the ladder. The D1, D2 and D3. I never heard the D3 series as those are very pricey and out of my comfort zone. They look pretty amazing though, I must say.
The top of the SoulNote DAC Heap. The D3 MKII looks stunning.

Also, SoulNote is not afraid to be different and by that I mean they design gear differently from others. For example the D2 MKII had a floating top plate that seemed broken, but it wasn’t. SoulNote believes doing things like this will help sound quality and maybe it does. All I know is that this brand makes great sounding gear and I was about to find out what their more affordable line sounds like.
The First Listen
After weeks of listening to the high end Imersiv D1 and being spoiled by what it brings I was prepped for a change up. I installed the D1 MKII DAC in place of the Imersive D1. I started with using a ModWright KWH 225i integrated amp with a Matrix NT-1 doing streaming duties.
With the high end priced Imersiv DAC the sound was massive in scale and threw a large three dimensional tall and deep stage. The Imersiv is pure, clean yet has some body and impact as well, very dynamic and as close to a perfect sound that I have heard from any DAC.
With the SoulNote in place the sound was quite different right out of the gate.
Once I had the volume matched to the Imersiv the SoulNote D1 was making some seriously beautiful sounding music. The immediate difference I heard was a smoother treble but still with tons of air and shine, a bit of a warmer midrange but with super clarity. The Imersiv had a bit more bass punch but the D1 MKII also did well here with a tighter cleaner faster bass still.
Remember that the SoulNote is $7k+ less expensive than the Imersiv yet it was holding its own here and while not as dynamic and all out immersive as the Imersiv D1 the SoulNote was “prettier” in the way that it was doing the conversion of digital to analog. I have to say it shocked me that in reality, the sound was just different vs better or worse.
The SoulNote was very impressive for its price point and beyond when it comes to sound. I will post the specs below at the end of this review but for now I want to focus on sound quality as this is first and foremost WHY we buy expensive DACs, to improve the sound of our digital music system.

Streaming Tidal was a treat and going into my reference SV Audio Gro speakers the sound was illuminating, transparent and alive yet there was beauty, glow and serenity…yes it was very soulful. Going into the Fleetwood Helios the sound projected as usual and sounded very alive and open with the projection being a 9/10. Going into the RBH Sound Voca Fina MKII, which are masters of the holographic stage and pinpoint imaging, the SoulNote D1 was very illuminating, holographic and open. I started to understand just who would love this DAC.
If you like that wide open sound, clean but not sterile, a wide stage with organic three dimensional imaging as well, this is a DAC you may want to check out. It does immersion almost as well as the Imersiv D1 and while not as all out dynamic it brings more beauty vs the more analytical edge of the D1. The D1 MKII does not have a preamp like the Imersiv but sound wise it’s not too far behind. Yea, really.
If you like big time warmth and beefy body, huge fullness and visceral bass impact I would steer you in a different direction when it comes to a DAC, even the little Verse. This is more of an audiophile style DAC but holy cow does it does bring a very beautiful sound. If you enjoy piano, acoustic, vocals and jazz the SoulNote D1 MKII is stunning and well worth the price. It does all music justice though so it is not a one trick pony as some higher end converters are.
Moving up to the brands D2 MKII will bring more refinement and smoothness to the same kind of sound but I have to be honest and I hope SoulNote doesn’t get mad at me for this but I would take the D1 MKII over the D2MKII. Why? I feel it has more “beauty” in its sound vs the slightly leaner sound of the D2 MKII and it brings 98% of the sound of the $10k DAC.
I feel the D1 MKII brings just the right amount of warmth, glow and romance but never crossed into overly warm, juicy or bloated territory. The D1 MKII also has zero edge, zero brightness and never sounds lean or strident. It’s so beautiful and as I sit and listen late at night I tell myself there is no reason to spend more.
Could I have finally found that more affordable DAC that brings the high end immersive sound I crave? Well, I think I have as this DAC sounds more like a $12k DAC than a $4500 DAC. It is truly the definition of what a real “Giant Killer’ is.

What about VS the LAIV Verse?
I took out the SoulNote and placed in the $850 LAIV Crescendo Verse. I set the sound level to the same volume using my sound meter and what I heard was a much warmer sound. Beefier and with more bass impact. This was nice as it gave a groove, a beat and slam but I was missing a few things now. Gone was the large open transparent stage and in its place was a smaller (but still large) more localized stage. I lost some sparkle up in the treble, now it was a touch rolled off in comparison.. I lost the all out clarity in the midrange that the SoulNote D1 MKII brings and now I had warmth and body but it was obscuring some detail due to the added bass in this area. I lost some of the more hidden details that I heard with the SoulNote.
It really depends on the sound you seek but this DAC has that SoulNote sound and to me sounds just as good as the D2MKII but the more pricey box looks prettier, nicer and is larger. It also has a touch more refinement. As good as the LAIV is, it’s really great for what it costs and then some but it does not compete with the SoulNote D1 MKII.

The Specs of the D1 MKII
- DAC Architecture: Dual mono configuration using independent ESS ES9038PRO DAC chips (one per channel).
- Digital Inputs: USB (Type-B), 2 × Coaxial (S/PDIF), and 1 × AES/EBU.
- Supported Formats (USB): PCM up to 32-bit/768 kHz; DSD up to 22.6 MHz (DSD512) via DoP and ASIO.
- Supported Formats (Coaxial/AES/EBU): PCM up to 24-bit/192 kHz; DSD64 via DoP.
- Analog Outputs: 1 × Balanced (XLR), 1 × Unbalanced (RCA).
- Output Voltage: Balanced: 5.8 Vrms; Unbalanced: 2.9 Vrms.
- Digital Filter Modes: Selectable Non-Oversampling (NOS) mode and FIR Oversampling.
- Power Supply: 260 VA large-scale toroidal transformer with discrete, non-NFB high-speed regulators.
- Frequency Response: 2 Hz – 120 kHz (+0/–1 dB).
- Signal-to-Noise Ratio: 110 dB.
- Total Harmonic Distortion (THD): 0.08%.
- Power Consumption: 20 W.
- Dimensions: 430 mm (W) × 109 mm (H) × 379 mm (D).
- Weight: 10.0 kg. [1, 2]
High End R2R vs D1 MKII? Meet the Allegro.

I have also been comparing this SoulNote to the built in R2R DAC that sits inside of the very high end $15k AGD Allegro integrated amp. The AGD Allegro has a gorgeous DAC inside that has warmth, glow and does the spatial thing so well. It’s not the most airy or sparkly DAC but it’s a very refined and smooth very analog like sound. The D1 MKII, when connected to the Allegro and bypassing its internal DAC brings a more illuminated sound, as this DAC has done since day one. Cymbals have more life and air, vocals are a smidge cleaner and more detailed and bass is a bit tighter and cleaner. The soundstage is deeper and wider and this is awesome. Shows me just how special the D1 MKII is and again, I prefer it to the more pricey SoulNote D2 MKII for two reasons. It is half the price and sounds 98% as good.
The R2R DAC inside of the Allegro is no slouch though and for those who prefer a more analog vibe, no need to add a DAC. In fact. I love the DAC inside of the Allegro.
Conclusion
I have enjoyed my time with the SoulNote D1 MKII DAC as it offers an entry lane into this high end brand in price but not in sound. It brings the same kind of vibe and energy as the more pricey SoulNote DACs which is airy, open, clean and well..an audiophile kind of sound. It doesn’t sound etched, lean or harsh in any way, rather it’s like looking through a crystal clean window on a nice summer day as that sun brings some warmth and beauty…some shine.
It’s musical and alive without any tubbiness, bloat or dullness. Live music is a treat on this DAC. Compared to the SoulNote D2 MKII it is not quite as refined or smooth but it’s 98% there in my opinion, yea…that is close. Compared to the Imersiv D1 and Audio Mirror Wave, well…the D1 MKII doesn’t quite reach those heights but damn, it gets close. Compared to the $849 LAIV Verse I have here, the D1 MKII is much more open, see through and details are much more easily heard in the soundstage. More holographic and much more beautiful in sound and vibe. This is a DAC that could be end game yet it costs so much less. I also like this DAC more than a couple of big money DACs out there that I have heard. Giant Killer? YES!
There is so much competition in the world of audio and HiFi and things are heating up in the DAC realm as to where these days we can get that high end sound for so much less than in the past. The D1 MKII from SoulNote is a true bonafide Giant Killer, and I do not use that term lightly.