I run a Peachtree DAC iT, which is their older model. Picked it up about 5 years ago and paid full-ticket of about $500. Sounds awesome and you can find them on EBay for about $125 or so. The newer iTx model does 192 khz whereas my older beast only does 96 khz. But since I only use it for playing back Redbook grade files, it's fine for me.
Are DAC's overpriced?
External DAC's are pretty expensive imho... BUT I don't know that much on how to choose one. I want mostly cd's in my small two channel system... I am rebuilding after selling my Logans and Mac amp to go back to "drivers"! The Logans wore me out with Maintenance. Should I buy a new cd player or get a new DAC for my old player?