How much should I spend on cd transport


Ever since I stepped up to seperates, I have been using the digital out of my Marantz CC65 cd changer to my Lexicon DC1 pre/pro. I have decided to re-arrange my system towards 2 channel. In doing this, I have realized I need a new pre/pro (may just buy Adcom's GFP750 and keep the lexicon for HT), and I also need a better cd player. In my research, I have found a few cd players I'd like, and am also interested in an external DAC (Music Fidelity's new DAC) for upsampling. With all this in mind, do I need to buy a $1k cd player since I may simply use it as a transport, or will a mid-fi changer be adequate?

Thanks.

Please make any brand recommendations you may have.
mdomnick
Transports make a huge difference - I found out when my Meridian 200 was sent in for repair and I sustituted a Rotel 855. The meridian is much more refined, smoother - a digital cable is also extremely important. My transport also reacts to power cords more than dac's or any other component in the chain. Just my .02
Spend as much as you can afford on your transport! It is very important component. Older ones, like Marakanetz suggested would be your best bet.If you want to keep up with technology, proccesors can always be upgraded later.
I disagree on spending more for a new transport. As has been said earlier, the digtal signal MUST be reclocked to get satisfactory performance. I would NOT trust the opinion of anyone that does not have specific experiance in owning and using a reclocking device such as the Monarchy DIP's. As to limited bass responce, make sure the transport is fully tweaked with a proper stand, isolation and vibration control, as well as as much mass on top (20 lbs) to damp vibrations further. Upgrading transports gives you the LEAST bang for the buck you can get. Due to changing technology, upgrading processors gives the MOST bang for the buck.
The Pioneer PD 95 is also an excellent transport - I agree that the DAC is more involved in the sound but a good platform to pick up the signal is also a must but can be had for less than great DACS -usually.
I meant not only transport as a "former heavy-weight" machines. I meant both. At the same time I've never experienced any sonical or musical improvement of a new digital playback in comparison to high quality "former heavy-weight champs". I believe that transport and DAC are equally invovled in the digital playback and the only least part to think of is digital cable. I do not believe into correction engines like Monarchy DIP and consider them to be no more than enhansers or even painters. More over some of these components already lost its value to the point where it will not go too much down. You can even re-sell them at the same or even higher price.
Do the reseach!