If the Bricasti has the necessary connectivity and feature set, then I would go that direction. The C55 looks bloated with connections and features that may never be used and add to the cost.
I recently acquired a Bricasti M3 DAC with the network option and I am using this strictly as a DAC, not a preamp, but I am very pleased with the results. I use it as a Roon endpoint, and connect using the network. I have compared the network to USB and SPDIF, and there is no contest, it is a huge step up.
While I think that you can play to the M12 without using a dedicated server, I am not convinced this will provide the highest fidelity. I use mine with a dedicated server and a short direct Ethernet connection. Others may know more and can comment, but I don’t think there is a free lunch, something has to act as a server.

