Have not heard the Audiolab but agree to just buy the best standalone DAC in your budget. I have a Bluesound Vault II and agree the DAC within is ok but nothing special. After a week of letting it burn in I hooked it up to my Cambridge 851C which also has DAC inputs and just standing at my preamp changing from the Bluesound on its own or going through the Cambridge the difference for the better was night and day and I was using the same cables (two sets) so the comparison was as fair as it could be except the addition to the SPDIF cable.
The Cambridge is a great player and DAC for the money but later I added a separate DAC and now my Cambridge just sits collecting dust these days. I mention it all the time that if you’re using the stock power cord on your Bluesound buy a better cable as it does help improve things. Unless you enjoy buying CD’s I’d just buy a DAC and stream and run your current player into the DAC if it has digital out and the DAC you pick has enough inputs... just don’t use Toslink.