CD/preamp or CD and stand alone preamp

I've had a short foray into HT and now plan to move back toward 2 channel. I have a Rotel processor, Rotel 1095 amp, and Dynaudio Contour 1.3 SE speakers...

I'm considering two possibilities, one, to replace the processor with a Levinson 390S or Wadia 860 CD player (with digital inputs) and plug my DVR and DVD into the player and the player stright into the amp or, two, replace the processor with a Wadia 301 (or alternative?) and either a Levinson 380S preamp or a Musical Fidelity A308cr preamp.

Any comments on merits or limitations of these scenerios, or alternate recommendations would be greatly appreciated. My goal is to improve my 2 channel experience and leave open room for step-wise upgrading. Thanks
A lot of people go back and forth with this issue...and there's been a butt-load of posts. From what I've read, true audiophiles would never go without a hi-quality preamp as going without one sacrifices sound. However, I've read posts where peole have compared stand alone CDP's with Pre's to high quality preamps and haven't been able to tell the difference. The CDP's you mentioned should provide you with fantastic preamp capabilities.

I use a Resolution Audio Opus 21 CDP running directly into active speakers with an Audio Matrix Power Conditioner. And, let me just say it sounds fantastic! I'm not missing a preamp at all. The money I saved by not bothering with the pre, I used to get the Audio Magic PC, which I'm certain is much more of a benefit to my system than a preamp could be.

If you're really out of HT, spend your money on the nicer CDP's and skip the preamp.
I too have the Resolution Audio Opus 21. I run it directly to the amp. I sold my Krell KRC3 preamp because it was not helping the sound compared to the direct-to-amp approach. Perhaps a world-class preamp would add something sonically, but I can't afford a world class preamp. Anyway, I would keep your Rotel processor for any home theater needs you may have and use its digital output and run into the digital input of whatever CD player you choose (Those you listed all have a digital input I believe). This gives you great two channel sound while letting you enjoy your home theater set up for movies when needed.