@rikkipuu Thanks so much for the detailed advice.
I actually went ahead and picked up some inexpensive converters on Amazon just to see if I could hear any difference, even with a cheap tweak ($80). I was pretty impressed — the background got noticeably darker, and the imaging and separation both seemed to improve. I also picked up a bit of a wider soundstage.
That modest experiment inspired me to pull the trigger on the Sonore opticalModule Deluxe, Linear Power Supply and Fiber Ethernet Converter Bundle from Small Green Computer — about $800 all in. Since I listen to vinyl around 90% of the time, I think that's probably where I'll land on the price/benefit curve.
Thanks again to everyone who helped me out.

