Yes, hip dac2 is absolutely stunning in looks and functionality.
Very powerful device. Can easily drive big cans. Power match button works really well with attached earphones or headphones and feeds them with required power. I recommend them to keep them on always.
Good resolving power (sopports MQA also), warm sound signature and goes well with most popular music.
Xbass feature is absolute dope for enjoying party songs, EDM, Electronic.
Recommended for bollywood, electronic, EDM, Dance, New age, Trance and similar music genres.
I have used Fiio BTR3, BTR5, Q1 Mk2, but compared to those this has unique warm and enjoyable sound.
If you are looking for dac amp for your sharp sounding iems like.. KZ, this is it.

Thanks to HPZ team for fast and safe delivery of the product and making latest audiophile products available in India.

At first, I was a little bit skeptical about buying it. I had no idea about the performance and I hadn't used anything from iFi before this. But I was pleasantly surprised after using this AMP/DAC. I am not an audiophile (at least not yet) but I now know that music sounds natural, clean and wide (better sound stage). The X-Bass feature really adds that oomph and the vocals pop-up cleanly. Of course the Dragonfly Red surely tops it in sound quality. However, the USP for this Hip-Dac2 is the 4.4,, Pentaconn balanced connector. I use the Sennheiser HD650 (300 Ohm). Just to put things into a little perspective, the Dragonfly Red is good sounding at the highest volume (Sound quality is awesome but volume is okay, not loud by any means), but I wasn't even able to try out the full volume on the Hip-Dac2 (with the 4.4mm Headphone Zone Balanced cable for Sennheiser HD650). I had called up the Headphone Zone team before buying it and they told me the 4.4mm balanced connector sends out almost double voltage to the headphones and I would be able to enjoy the HD650 to it's full potential. And boy oh boy, they didn't lie. The headphone now sounds the best. (The max volume that I am able to hear is about 70% on the Hip-Dac2). Of course, needless to say, I am not going back to the Dragonfly Red with the 3.5mm jack. Don't get me wrong, there is nothing wrong with the Red, just that the 4.4mm pentaconn connector is way better in terms of sound reproduction. The device itself is a bit large (like another mobile with your mobile) and the battery could use a little more juice (about 6-8 hours, I am told). But all in all, I am quite happy with the purchase and would definitely recommend the iFi Hip-Dac2, especially from Headphone Zone.
I might have a small complaint about the 4.4mm balanced cable from Headphone Zone, it's too expensive at Rs. 8999. I knew what I was getting into when I decided to ditch my Apple Airpods and board the Hi-res, wired, full-size, studio-grade monitoring headphones train. But still, 9k for a cable really seems high.
Thanks for the awesome service too guys, you guys would be my first recommendation on that front.

Wanted something that could drive my headphones with iPhone. For in ear 24/48 kHz apple adapter was fine. FiiOs had been too bland and too neutral for me. Not an audiophile but love music. Treble is slightly boosted but that can be fixed with equaliser. Loving it. Amazing delivery on time as well.

Tried a highly rated dac before this, could not even make out the difference. Then comes this...and it feels like spring :)
Awesomely crisp sound and just the right kind of bass you need with ample power at disposal. I accidentally came across the review on Youtube for this beauty of a product (except for connector nightmares), and was pleasantly surprised to find it so promptly available on Headphone Zone just after launch. Highly recommended!

This is for all the people who have doubts on these things
1. Should I buy FD5 ? Is it good enough ?
2. Is bTR5 good ? How does it compare to Hip Dac 2 ?
3 is Kz Zs10 pro good, how does to compare to FD5 ?
4. Tell me about Hip dac 2.

Brief history
I started my audiophile journey with Headphonezone. I donot yet know if iam an
Audiophile. I just hear things different. I donot know about technicalities and frequencies and white notices and numbers and yadayada. I just knew I was missing something. Searched on Google came to Headphonezone, bought a KZ zs10 pro and a tiandernhe from audiostore opened apple music lossless and I understood it was not my mind who hated what I was listening to, it was the shitty music that was being played to me all along. Now I knew what real music was and understood the possibility of milking every possible musicality out of Phones, music services, Dacs and IEMs. Bought a BTR 5 thinking it was the Dac that was letting me down. Meh meh. Not much improvement. Bought an FD5 thinking Iems were the culprit. I was in for a big surprise. FD5 worth 25k sounded worse than kz worth 5k. Shocked, spent hours back forth on the same music listening on Kz and FD. Always the KZ sounded pleasing. I was dejected. The FD sounded tinny shouted blah blah basically the music was all over the place. I was just about to palm it off to my sister l, when I thought about changing the ear tips to foam. Did that, musicality improved by 25%. I was shocked. Thought a lot ordered and ordered a hipdac. May be the dac was the problem ? Hip dac came. Hip dac 2 + Fd5 + Tidal Mqa - Nirvana. No words. As a great musician once told "Nothing else matters". And also shoutiut to the guy below me who said it was eargasmic. It is. I saw your post and took a plunge. Thanks.
Now to the real questions
1. Kz zs10 pro n FD5 - The difference is worth the money. It's like watching KRK and SRK.
2. BTR5 n Hipdac 2 - BTR5 is obviously good. But Hip dac is on another level. There is actually no comparison. You get a HIpdac you won't buy any other dac for a loong looong while. ( bluetooth functionality is there but I never use it, I wanted the best possible music. period.
If the question of diff between bluetoothed music in BTR5 and Wired Hipdac, I would say the diff is around d 75%. I donot know about your ears, so take it with a pinch of salt. Maybe you should go for an improvement of 50% musicality.

Bottomline.
If your question is I have a budget of 40k, what should I do. Please go for the combo of FD5 and Hipdac 2. I donot comment on other Iems because I have never heard them and can't comment.

If your question is, bro I don't care about the Iem , I want a dac. Hip dac2 - nothing else matters(have tried 4 already actually)

Iem - your choice. But FD5, Kato, Hook x are the better ones.

That's my piece. Thanks.