Thanks everyone...as usual, you've all been very helpful!
I have 4 pieces of Bluesound kit in the house, a couple of first generation Node N100 players, a first generation Node N150 streaming Amp and a Node 2i. I’ve used both the N100 and Node 2i pieces with external DACs, in which case both pieces perform the first MQA unfold, getting you all the way to 96K. This has been the case with both my Bryston BDA1 as well as my Chord Qutest.
I believe the Denon DVD 2900 (I still have one in a closet) takes the DSD from SACD and outputs after converting back to PCM. My player had no digital outs so you are relying on whatever internal DAC is in the player.
Sony Universal players are capable of outputting the DSD from SACD over HDMI. Bryston DAC3 have HDMI inputs. I use a DAC3 with my Oppo 105 and it also sounds great with my Blusound Vault2 over toslink