I never heard the 205 but the e38 to me is better than the 105 I had. Lovely dac. Now I do not watch much tv or movies. If one does do that an Oppo is probably a more convenient choice.
I've heard the Oppo 205. An improvement over the 105. But it doesn't have the sound quality of the exaSound e28 or e38 DACs.
Given the price differential, that's not a surprise.