CDP or DAC?

I've enjoyed the Exemplar CD players for many years. First started off with Exemplar Denon 2900 tube CD player which I still own and is still running in second system with 2 laser replacements. The Exemplar tube Oppo 105 with outboard power supply is very nice to my ears, very analog and has a nice full sound. Having the option to roll tube is also nice. I spend more time streaming now and know both CD players can become boat anchors at any moment. I hate to say it but both my turntable and CD players are starting to collect dust. 

Even if your digital medium will primarily be your CD collection, you might consider ripping your CD’s to be accessed through a streaming device; this will give you future access to streaming services.

But, if you insist on a CD playing device, a separate DAC of high quality will still be usable should you go to streaming.  I like the Audio Note DACs—tubes give them the natural and enveloping sound often found from analogue sources.

The CD player I liked the most was the Naim CDP 555.  I had that player until I went with their top end streamer.  It is no longer made so it probably is in your price range (it requires the pricey 555 PS power supply, which is why the combination is quite expensive).  A current model CD player I like is the Lector (Italian, tube-based), another rich and warm sounding player.

Rather than answer "CDP vs DAC" with specific suggestions, I’ll give some general thoughts on the two categories.

first, you understand a CDP contains a DAC, right? So its rally just a packaging question - and comes down to what’s available int he market at various prices. Since few buy CDPs any more (the mass market has shifted to streaming entirely) DACs have more engineering behind them. Moreover, they have more "cachet" so more market emphasis. Score 1: DACs.

Second, a few years back as my transport died, i ripped a large portion of my CDs, FLAC and played them form my macbook pro bitperfect. Guess what? Better every time with the SAME DAC. I can speculate on why and believe much is lower jitter with a better re clocked USB vs SPDIF which often depends on clock from the transport. For the record i have a relatively high resolving system. I also, for various reasons, have 4 DACs to compare -- two that i have largely rebuilt so they barely reflect their original condition (most having to do with power and clock). All pretty darn analog-sounding minus the compression noise and groove wear (a problem with legacy records that i simply cant tolerate).

I’ll also caution you not to throw out the streaming option. Having 50,000 albums, all FLAC+ or HD, many remastered, is pretty darn nice. I switched over pretty fast - for depth of catalog, convenience, and yes, sound quality. I for the record use Tidal and am considering adding Qobuz.

Bottom line: i’ go DAC. As to which one, you have to listen. I too like some of the better R2R DACs but my #2 fav happens to have a 32 bit sigma-delta chip. The real sound is made outside the chip by power supplies, filters, clocks, and analog stages.
I’ll beak my rule and say, if i had a LOT of money i was willing to put into digital, I’d seriously look at the MSB R2R discrete DAC(s). Form a design perspective they appear to get everything right, except the price :-)

G

"The real sound is made outside the chip by power supplies, filters, clocks, and analog stages."  So true.

I believe in diminishing returns after a certain point. I am very curious to hear the Technics SL-G-700

https://www.theabsolutesound.com/articles/three-sacdcd-players