Whilst that total cost is marginally cheaper than the Klein DAC (remember, you're comparing AUD vs USD here too), based upon my personal experience, I very much doubt it will sound better.
I've owned many DACs with a variety of different chips and implementations... a bunch of PCM1704UK R-2R, a few Wolfson WM8741, a few Philips, several different ESS Sabres, the AKMs, and a few other chipset makers. The prices have varied from $50 to $3K.
I've never met a Sabre DAC that I truly liked - there's something not quite right about the sound (to my ears, of course). I haven't heard the SMSL M8 though, so you never know... it might surprise me! Although, based upon
@mjw21a 's comments above, I think it will sound exactly as I expect. The only place I'd ever use a Sabre DAC is in an all-vintage system (including speakers) which lacks in outright resolution, and can mask some of that Sabre glare. On a more resolving system, they are just too much for me.
Prior to hearing the AKM, I was a dyed-in-the-wool R-2R DAC man, as for me they nail the tonality and timbre. However, the humble Klein DAC is the best of both worlds IMHO - great tonality and timbre, with excellent detail retrieval. It's a truly fantastic bit of kit - and it's the little, less sophisticated brother of the Groß DAC which from all accounts is another step-up.