Good CD player vs. Transport and DAC

Where am I going to get the best Digital playback? Going with a high end CD player or a transport and DAC? Also, what's the difference between a transport and a cd player if you are using an external dac with either one? I am thinking of an Oppo bdp 95 to use for cd play back since it seems to have a really nice dac (SABRE32 Reference ES9018 from ESS Technology). I am currently using a denon dvd 2900 and a musical fidelity v-dacII with pangea p100 power supply. Any feedback is greatly appreciated! Thanks!