Is my DAC my weakest link?


Hi everyone,

I'm new to this sort of thing. I recently bought the following system used:

Thiel CS2
Rotel RC-1070
Audionics BK-ST 140 (BT-2)
NAD 5000
Music Player II DAC

It sounds great and I am very happy with it. I am wondering, though, whether the Music Player II might be outdated. I know everything is old (hopefully some of it in a classic sense), but I have been wondering whether more recent technology might have greatly improved DACs. Would it be worth it to invest in a more recent DAC, and if so, what price point would be roughly commensurate with the system? (i.e. no need to improve the DAC beyond the capability of everything else).

I stream Tidal HiFi through Audirvarna Plus to the DAC.

Thank you for your insights!
ryunosuke13
This is really wonderful advice. Thank you. It's a lot easier to think about laying out money for a DAC, if it gets me an upgrade on the pre-amp too! 
BTW Chord Mojo will also drive the power amp. It is also a great portable solution for travel ---which is my main use.
Chord Mojo looks awesome but looks like it doesn't support MQA.

Would the Pro-Ject Pre-Box S2 take input from a CD player? Looks like it has optical and USB in, plus a single coaxial input.
If CD player has optical or coax SPDIF output then you would be good to go using the Pre-box as DAC and preamp.
The DAC is the most important part as it will convert the lossy digital data to analog. Jump to chord dac and you will see