TS, all the while, I also have the same question. All the while I wanted 5.1 surround with AVR but now, setup totally changed as I am a beginner stereophiler now - more towards music.

I am now running on Cambridge Audio Integ. Amp + PSB Alpha B1 speakers + Velodyne Impact Mini and I cant play good music unless I use CD player. I was thinking to get a Pana BD60 player until recently I did few testing with the help of my boss as he could supply me some of his equipment for testing.

I've tested the following items and do notice my remarks in bracket.

Tested with:
- Older Sony Discman (sound is not bad, acceptable)
- Older Samsung DVD player with HDMI ( unbearable quality )
- Shangling dedicated CD player with BurrBrown DAC (sounds solid and fuller)
- CA DacMagic with Popcorn hour A200 (digital music - sounds far more perfect than the Shangling dedicated CD player... can u believe that???)

Those are the tests conducted with Beginner setup, and due to this, I am cancelling my purchase of CD player because I can play lossless format like WAV, FLAC,.... better than CD player.

All tests conducted with a simple Denon Master Audiophile CD.

What really impresses me was that the DacMagic enabled me to hear the sound that cannot be produced by other items and yet, the songs are ripped to WAV and not from CD!

Can Wolfson DAC be so good? Only my ears can tell me.

I agree.

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Added on December 17, 2010, 11:16 amI sense that bookshelfs make good front speakers for movies as they are more detailed. I've tested this together with my friend who has entry level Yamaha floorstanders (in Transformers 2).

This post has been edited by RayKazansky: Dec 17 2010, 11:16 AM

Correct, didn't know that dedicated DAC is so good.
Popcorn<-via optical cable->DacMagic<-via RCA cable->Azur340SE<->Speakers+Sub

This tube-based DAC should be good too...(have not tested). Please refer below.
TubeMagic D1 DAC

Specs:
TubeMagic D1 DAC Specs

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Added on December 17, 2010, 11:41 amI already left my jaw @ friend's place with RM3xxk setup, no need RM 1Mil, haha.

This post has been edited by RayKazansky: Dec 17 2010, 11:41 AM