Looking for new DAC: one box or two?

My opinion don't worry so much about the dac chip type but listen to the total package. Some companies do delta sigma just fine. I have a r2r dac and a delta sigma dac and love them both. System synergies and overall design trump all.

I know my opinion might not jive with current attitudes but let your ears be the judge.

Thank you guys very much for your responses. So, does anyone have some suggestions of particular DACs? I have read several of the threads here already. Are any of the usual suspects a particularly good match for my system? Thanks.

I had to first check the date on your post to see if I had mistakenly read a real old one.
Dude! Did you know that today's USB DAC's like the Ayre QB-9 24/192 will SMOKE your 3.2 CDP? And the new DSD version is a BIG jump up from the 24/192!! It takes a $5000 CD player to match the performance of the Ayre QB-9 DSD. I actually like the M.F. products, I have the A308cr amp and it is awesome, But if you sell the 3.2 and use that money to abscound on a QB-9 (even a 24/192, then upgrade for $500 to the DSD) and rip your cd's to a dedicated 7200rpm hard drive connected to a dedicated mac mini, you will be in a new world in terms of sound quality and ease of use. Use a NAS server with a pair of 3TB drives mirrored so if one fails you just spend a couple hundred to replace and let it replicate the music from the other and go again. Your 3.2 will wear out and then what will you do?? Be stuck with a DAC that is made for CD players?? Before about 2010, I would be full of crap suggesting this, but with the latest versions of Jriver and cheap used mac mini's and cheap NAS drives the is the ONLY way to go. Pick up your iPad (even an old one) and you have thousands of albums at a touch. Feel free to contact me for more on this, dude.

Thanks Dfarmer. I really have dragged my feet on the computer audio thing, but I do want to get a DAC that will allow me to do what you suggest. I assume you have the Ayre? Do you have any experience with other DACs? How did you rip your cds? Thanks!

"08-13-15: Arsh
Thanks. To some extent my question relates to the relative importance of the transport and the pros/cons of having the transport and DAC together or separate."

Everything is important. But there's really no "better" configuration. There's enough product diversity to allow you good sound regardless of how the individual pieces are laid out. My recommendation would be to focus on 2 areas. Your needs and your personal preferences. Get that right, and its pretty hard to screw up.