PS Perfect Wave Trans/DAC versus Meridian 808.2

I'm thinking about getting the combo- PWT, PWD.
I'm trying to understand the PWT better- Is it more like a hard drive than a CD player- does it have storage or is that what my PC is for?
What If I only have one home PC? I don't really have a network or any other pnp devices.

Has anyone done the trade-in program yet? One dealer says the trade is "upto $1000" depending on what you trade in, so you don't just get a grand by showing up with something bought at Costco for 59 bucks!! It would be interesting to hear what deals people get. I have some older gear, but would just keep it if the deal is only "pennies on the dollar"

The PW DAC is also a preamp. Has anyone used it this way?
I don't know how a previous poster could compare it to another brand that is just a DAC with no network ability or preamp functions.

PS Audio's literature says the PWT transport will play DVDs.