The M32 is a bit on the forward side. Not bad sounding but forward. With an ultra neutral speaker like the Dynaudio, your sound profile will be slightly forward. The M32 will drive the Excites well and obviously has a ton of features.

The Anthem STR integrated looks really interesting and is also in this price range at $4500. It has a similar feature set but lacks the ability to add modules like the BlueOS module. The Musical Fidelity M6 Encore Connect 225 is amazing but it is a bit more at $6K. The feature set is spectacular though.

I would add to your list the following integrateds : Classe Sigma 2200i stereo integrated amp (direct digital amp) and a Naim Uniti Nova which is a digital streamer/DAC/integrated amp all in one single chassis. The Classe Sigma 2200i is $5500 and the Naim Uniti Nova is $7500. The Classe Sigma 2200i is a direct digital amplifier and will digitize its analog inputs. Has no DAC and the digital signal is kept in digital domain all the way through the amplifier output buffer where it's converted to analog for speakers to use.
I prefer the sound of the Naim Uniti Nova to the Classe Sigma 2200i. IMO the Naim Uniti Nova is more musical, more refined and has more body.
The Classe Sigma 2200i is very good too, sounded very resolved, fast and very detailed.
The Naim Uniti Nova has built-in Tidal, Deezer, Quboz & Roon apps and the Classe does not.
Overall the Naim Uniti Nova sounded better IMO and has more complete features and functionality than the Classe Sigma 2200i.

Alunm wrote:

Many thanks. That’s extremely helpful. I will try and audition all three if possible. The Music Fidelity M6 looks particularly interesting. Thank you

In my opinion the Musical Fidelity M6 is an amazingly good-sounding amplifier, and a steal at its $2995 price. I think it sounds as good as some of the best that sell for twice its price.