DACs give you more flexability in that you can connect several sources. If you only see yourself using one digital source, that's not an advantage.
Dollar for dollar, I've found DACs sound better than CDPs. Less stuff in the box means more sound quality per dollar; at least in theory anyway.
I've had the Rega DAC in my system for a little evr a months now. It easily beat out my Rega Apollo, which cost the same amount. The DAC does everything the Apollo does (except make me get up to change CDs) a good bit better.
As far as coax vs toslink, it depends on the transport. Some stuff is noisy electrically, and toslink works better due to no electrical connection to pollute. Toslink can introduce more jitter to the system if not done right/the right cable. Trade offs, just like everything else. Anyone who says coax is always better than toslink hasn't heard enough of a variety of transports and good toslink cables IMO. There's no one right way to do anything, and every rule has exceptions. Your ears should be the judge, not Sam Tellig's or anyone else's.
Not a fan of Musical Fidelity at all, personally. Take anyone's opinion with a grain of salt. I'm sure you've heard gear that wowed a ton of people, yet fell on its face to your ears. I know I have.
The 542 is a very good CDP, or at least it was in its day. Make sure what you get is a good step forward and/or a step forward in every way, not just one or two things are better. That can be said for any new piece IMO.
Also, if you're looking to improve things and are prepared to throw money at it, make sure everything's set up right - placement, acoustics, etc. before doing so. No point in buying something new and not getting your money's worth because the room sounds like crap.
Just some food for thought.
Dollar for dollar, I've found DACs sound better than CDPs. Less stuff in the box means more sound quality per dollar; at least in theory anyway.
I've had the Rega DAC in my system for a little evr a months now. It easily beat out my Rega Apollo, which cost the same amount. The DAC does everything the Apollo does (except make me get up to change CDs) a good bit better.
As far as coax vs toslink, it depends on the transport. Some stuff is noisy electrically, and toslink works better due to no electrical connection to pollute. Toslink can introduce more jitter to the system if not done right/the right cable. Trade offs, just like everything else. Anyone who says coax is always better than toslink hasn't heard enough of a variety of transports and good toslink cables IMO. There's no one right way to do anything, and every rule has exceptions. Your ears should be the judge, not Sam Tellig's or anyone else's.
Not a fan of Musical Fidelity at all, personally. Take anyone's opinion with a grain of salt. I'm sure you've heard gear that wowed a ton of people, yet fell on its face to your ears. I know I have.
The 542 is a very good CDP, or at least it was in its day. Make sure what you get is a good step forward and/or a step forward in every way, not just one or two things are better. That can be said for any new piece IMO.
Also, if you're looking to improve things and are prepared to throw money at it, make sure everything's set up right - placement, acoustics, etc. before doing so. No point in buying something new and not getting your money's worth because the room sounds like crap.
Just some food for thought.