What is a Transport?

I'm totally new to the stereo hobbie and I wanted to know can anyone tell me what the purpose of a transport is?? And what is a converter for? Please help make me understand Thanks
A transport spins the CD and reads the digital data off the CD media. This digital data stream is then sent to an external "digital-to-analog converter" or DAC for short. The DAC converts the digital data stream into a line level analog signal that is then fed to your preamp or integrated amp.

So a transport can be thought of as a CD player minus the DAC electronics. CD players have the DAC circuitry built-in while a transport uses an external DAC.
Excellent post/response Abe. Cheers. Craig.
A good guiding light for me when I started in this hobby was Robert Harley's Book The Complete Guide to High End Audio.
Also, "line level" is a commonly agreed on electrical value (value range?) that comes out of most equipment and goes into a receiver, preamp, whatever. Line level is a standard that lets you use company-x's preamp with compny-y's amp (without blowing it up!). The exception to line level is a phono signal. This uses a different standard and is why you can't plug a CD player into the phono jacks of your receiver.
The transport's connected to the DAC- The DAC is connected to the pre-amp - The pre-amp's connected to the AMP- The AMP is connected to the speakers. Now turn it on, put in your favorite cd and let's ROCK!!!
Thanks for all your answers and help I now understand. and it is alot more clear to me now. This is a great hobbie. Mark