Will DACmagic be an upgrade to my Elite Blu-Ray?

Ok, so like the title says, will a DAC Magic from Cambridge audio be an improvement in sound over the built in DAC in my Pioneer ELITE BDP-05FD?

Just want to make sure i am not making a sideways step, if im going to buy one i want it to be better than the DAC in my player...

Or should i just skip ahead another level and buy a PS Audio Digital Link III or a Bel Canto DAC1?

Any thoughts?
I expect any external dac will beat the ones built into a blue ray player, although you'd have to try it to decide for yourself.

As far as the DAC magic vs. PS Audio or Bel Canto, the latter 2 will be better, but again it depends on how much you want to spend. Usually it makes more sense to spend a little extra and get what you really want as opposed to buy/sell/buy again.