Which setup is better?

Which source setup you think is better?

1. Esoteric X03 CDP (only)
2. Esoteric X03 as transport + NAD M51 DAC

What do you think?

Esoteric X03.
Esoteric X03 CDP

Thanks for your response. So, any specific reason why you think Esoteric X03 as a CDP alone is better?

Maybe I'm missing something here, but why would you think that the NAD is even in the same league as the Esoteric?
I have the esoteric x03se (I think you emmailed me but cannot email yet due to storm). The x03SE is excellent and the NAD isn't close. it will not make it better. I do believe redbook cd's sound better with the x03se going into my g25u/berkeley dac but that also goes streight into my amps. I cannot compare the esoteric direct to the amps.
What Krell-man said.