Is this a meaningful upgrade?

You will not hear any difference whatsoever by switching DACs. Enjoy what you have. 

I upgraded from an older Bifrost to an older Yggdrasil (this was years ago before the newer versions), and it felt like a meaningful upgrade to me. I liked the Bifrost so much I kept it in another small system and later gave it away to a friend who was just starting to catch the audiophile bug. He enjoys it to this day. 

Not sure I would call it a transformative upgrade or anything, but it seemed noticeable and beneficial for me. 

You will likely find that it is an upgrade, however I would give some consideration to other brands. I had a Gungnir MB and I really liked it, and I have had an Yggy MIB in my system for a few days. I am not knocking Schiit, but it might be worth looking around. 

Thanks for all the input. I decided to get an Innuos Pulse to replace my Node 2i. That way I can use the USB input in the BitFrost and evaluate how that sounds. 

@mashif 

As soon as you have spare funds treat yourself to a Stack Audio SmoothLAN (~$250) i bought one to try this week due to the 60 day returns policy. Within 20 seconds of plumbing it in I knew it wasn't sending it back, i thought my ZeniTH mk3 & PS Audio DirectStream Junior was good, but my ohh my, with the SmoothLAN inplace things really opened up.