Suggestion -- use your Arcam as a transport and run it to a Benchmark DAC-1. No SACD but superb redbook performance, in my opinion.
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If you're willing to go the DAC route, the Bryston BDA-1 is easily the best I've heard anywhere near the price. Its very flexible with a ton of inputs. Sounds extremely clean yet very musical. Not to mention that its built like a tank, as is everything they make. Its a bit backordered, and I don't think there will be any used ones available any time soon.
$2k new for the BDA-1 is a steal. I've heard it next to the Bryston BCD-1, and the BDA-1 was better. Slightly better, but better none the less. I agree with just about everything that has been said about the BCD-1. Its that good. The BDA-1 is better. I was contemplating the BCD-1, but am sold on the BDA-1 due to its better sound and flexibility. I just have to wait until after the holidays.
Just my opinions. YMMV
I have not listened to the Arcam FMJ 37 however...
Is the FMJ 37 the same as the 36 except SACD added? I really would like to know.
I have had an Arcam FMJ 36 for some time now and recently picked up a Rega Saturn. I thought I'd hear a marked improvement with the Saturn but compairing them side by side the Arcam actually does better in many respects. They are very close but the Arcam has slightly better resolution, more air and sparkle, wider soundstage, tighter more accurate tuneful bass and is not edgy at all...I was suprised that the Arcam not only held its own but actually surpassed the Saturn in some respects.
The only thing the Saturn may do better is a bit more mid bass ummmph which gives it a slightly fuller sound.
At least thats what I'm hearing in my system.
You already have a great player. Unless you NEED SACD, I'd leave well enough alone. Maybe have your signal caps upgraded and upgrade your op-amps. Save money and probably beat the heck out of your off the shelf solutions. Arcam CD players are hard to beat, across the range. I've had my CD72 for nearly 7 years and it's still better than most I've heard into the many thousands.