What to do: upgrade amp or buy pre-amp

I agree with Lost Bears.
The Ref 5se is significantly better than the Ref 5. Also, I had a pair of Ref 210s in my system and now have a Ref 150 with KT 150s. I prefer the Ref 150. I thought the Ref 210s were a little too light and airy for my taste. Not so with the Ref 150 or, if you can wait, Ref 150se. I think you will be disappointed going from the Levinson to Ref 210s. That would be the last thing I would do if I were you.

I admit my levinson sounds wonderful as i upgraded the big caps to all nichicon (sp). However its only rated at 100 watts rms and the Dynes are rated at 400 watts. I felt guilty not providing them with more power from a more modern amp. Would i get a noticeable difference and or warmer sound with the ref5se? Would you guys still recommend using wyred DAC to connect to ref5se? Im thinking it makes more sense to upgrade 1 component at a time so it's easier to hear the difference. Any thoughts appreciated.

Correction: the large and small caps were all changed to Cornell Dubilier about 200 hrs ago on my Levinson 331. Not nichicon.

" However its only rated at 100 watts rms and the Dynes are rated at 400 watts. I felt guilty not providing them with more power from a more modern amp."

There's no standard for measuring watts. So if you take 10 different amps all rated at 100 watts/channel and measure them the same, every one of them will put out a different amount of power. Also, you may not be reading the specs right with regards to the speakers needing 400 watts. Its probably for transients, not continuous. The easiest way to tell if you need more power is to do some listening. If the amp is straining, you'll hear it.

" Would i get a noticeable difference and or warmer sound with the ref5se?"

There's no way to tell without trying it. If you are looking for a more traditional, classic sounding preamp, ARC is probably not the best choice.

"Would you guys still recommend using wyred DAC to connect to ref5se?"

Any answer you get on that will just be a guess.

"Im thinking it makes more sense to upgrade 1 component at a time so it's easier to hear the difference. Any thoughts appreciated. "

It sounds like a good idea, but its really not a plan for success. There's a huge difference between buying components and building a system. Can you name a system in your price range that you would be happy with?

Cheng-

the pre-amp is the true heart of any system. Strongly consider the ARC REF 5 SE pre-amp. It is magical to say the very least. You are already using Transparent cabling, so this will be a sonic match.

Keep me posted & Happy listening!