Question About DACs

My CDP runs an internal Burr-Brown 24-bit DAC, and a Crystal Semiconductor CS8420 sample-rate converter chip that upsamples the CD data to 96kHz. It’s an older CDP obviously, but are the newer external multibit DACs, such as the Schiit Gumby and Bitfrost, far superior to what I have now? Or, would any improvement be a slight one? Thanks.

It depends on your current system...IMO If you can tell the difference between different cables then yes you will see better performance,especially in low level detail..
The newer high performing AKM and ESS chips are pretty amazing, of course they have to be properly implemented.
I think there have been big improvements in DACs over just the past few years such that it's possible to get sound quality from inexpensive DACs today that would've cost $5000+ not that long ago.  I'd have to think there could be significant qualitative improvements in one of the newer DACs from Schiit, Metrum, SW1X, etc.  It's certainly worth a look at this point.