Upgrade from X-ACT to Schiit DAC

My ~18 year old Yamaha CD player is acting up. I have been using it for the last 16 years with a Musical Fidelity X-ACT and a MF X-10D. 
In order to listen to CDs I had to hook up the 2 MF units to an old Sony DVP -560D DVD player. Bear with me here as I'm an entry level audiophile.
The CDs sound just OK via the Sony DVD player thru the X-ACT but I find it lacking.
I'm torn between buying a new DAC like the Schiit Modi 2 Uber/Bifrost and continuing to use the DVD player as a transport OR buying a new CD player like a Yamaha CD-S300/Onkyo C7030.
So, what would you do?
Has the X-ACT been crucially surpassed by the newer CD players and the stand alone DACs from Schiit?
You open to ripping your CD's to files? If so, the Sony HAP-Z1ES is an extremely killer sounding piece that is such a joy to use. You cannot beat it for the price. Has USB port to hang an extra drive for storage in addition to its built in 1TB. You can even rip your collection of CD's using its software. Just an external CD Drive is all you need to do this.
Hadn't even thought of ripping the CDs. Perhaps some day in the future. I'm old school and like picking out a CD to listen to.
For now I think I'll try out a Schiit Bifrost and see how I like it. If it suits me I will see about repairing the Yamaha CD player or replacing it with a new decent inexpensive CD player as a CD transport from Onkyo, Marantz, or Yamaha.