Streaming from Bluesound Node2i

The short answer is yes ... by either 75 ohm Coax digital cable or by Toslink. 1st generation Node N100 only supports Toslink. Node 2 and Node 2i support both Coax and Toslink. So as long as your stand alone DAC supports either Coax or Toslink you are good to go.

Yes, that'll work fine. 

That’s basically the Node’s only function. Experiment with your connections, I prefer coax over optical. If you go with coax make sure you’re using a true 75 ohm coax cable, not a standard rca cable.