'Bargain' upsampling DACs vs. classic high-end

Building a music server outputting digital on spdif via Xonar Essence card; this is for a second-home 'party' system (Dynaudio Speakers). I moved my Theta Gen V balanced dac up there many years ago; it has always been a very musical device. It is, however, more than 15 years old. I'm wondering if a current 'bargain' upsampling DAC like the Cambridge DacMagic could offer better sound given progress in technology and the fact that the Theta only does 44.1. Anyone have any ear-experience to offer?
The progress in technology in CD reproduction has mostly been in reverse, better specs, worse sound. I usually use a DAC from 1992, there are better ones now, but not for under $10,000. While I am having it recapped I am using a MF V-DAC, which you can get for $299 from Audio Advisor on 30 day trial. Look no further, will do everything you need and beat more expensive ones like the Benchmark in tests.
I agree I have never been a fan of the whole "upsampling" thing. Audio Research had a great paper out years ago about the problems with Upsampling. I too have an older Theta unit and it still sounds wonderful!
I have heard good and not-so-good examples of both types.My favorite vintage (mon-upsampling)DACs were the McCormack DAC One Deluxe,Muse Model 2 plus,and the very affordable Soundstream DAC 1 (designed with Krell Digital).For a more detailed approach,The Monarchy 22B was hard to beat.I would welcome any of these DACs back into my system!

I have become a fan of several affordable upsampling DACs.I currently own a Perpetual 3A (24/96)upsamlping DAC. I would not part with its full tone.It is also extended and dynamic! I just sold a Musical Fidelity A 3-24 which had been my reference.Its upsampling was switchable from 24/96 to 24/192.It has been replaced with a standalone CD player,the JAS Musik 1.2, which features 24/192 upsampling and a tubed output stage.I am also listening to a Citypulse 2.03 which I just purchased and which sounds very promising! I am also buying a Citypulse 7.2 that features balanced outputs(but no USB input).The Citypulse DACS have the deepest,tightest bass that I have heard in my system.Like the Monarchy DACs,the 2.03 is deatailed and extended(but not as smoothe as the A 3-24).