DAC or CD Player. Help!

DAC..... I had the same thought,  it's just that a good DAC can handle several inputs and serve more as the hub of a good digital system.  I bought a DAC , and then a year or so later I bought a good universal player.   I play everything through the DAC,  TV, Netflix, streaming audio, BluRay, and it provides great sound for all media.

Rsa, as with oddiofyl, and something I should have mentioned prior, I also use my DAC for both a disc player and computer audio (via USB/SPDIF converter).  I enjoy the synergy my DAC brings together with my Pre, amp, and speakers. This synergy s maintained regardless of digital source primarily due to their output being run through the same DAC.  

RSA,

I agree with audioman2015. If you haven't purchased a CD player or transport, you may want to consider using a computer or music server device and DAC instead.. With so many subscription streaming options available such as TIDAL HiFi (Lossless), there's no reason to use CDs any longer.

Since I've had my TIDAL Lossless music subscription, I don't think I've purchased a CD as I can access over 35 million tracks at Redbook CD quality level at home, in my car or on the road. When TIDAL or other subscription services offers MQA as an option, CDs will be the low man on the totem pole when it comes to sound quality.  

You can rip your existing CDs to your computer or music server. Although not as easy, there are options to rip SACDs in the event you have a large collection of SACDs, 

Hope this helps.

rsa
Like others have said, everything matters.

For a beginner I recommend a cd player that also serves as a dac - you eliminate the synergy variables, for the most part, & it allows a foray into decent computer audio. An upside is that you can always add a better dac in the future too.

Three that come to mind based on increasing cost are:
Music Hall c-dac15.3 - $550 street
Audiolab 8200cdq - $1,200 or so street
Rega Suturn-R - $2,600 or so street

If you are looking for direction on specific purchase(s) it would be helpful if you define for us your current system and what you wish to accomplish.