Pros & Cons of Buying an Integrated with Built-in DAC?

I also think that there are many older DACs (5-7 years old, possibly older) that could serve well in todays system. For computer audio most would require a USB/SPDIF converter, however this also is no problem as many good ones are available on the used market. Buying a used older DAC often provides for a much more robust power supply and analog stage for the money spent.

I have ended up with a Wells Majestic integrated. I don't miss tubes at all with this amp-- it sounds incredibly musical to me-- very engaging in a non-fatiguing way yet more dynamic and dimensional than my tubed Jolida. Yes; in the end, I had to spend considerably more than I'd originally budgeted, but my goal was to buy my "last integrated". It's upgrade-able and built in USA-- only a couple hour's drive away from me. All concerns about DACs have evaporated since the Majestic has been in my system. Jeff Wells even burned it in before shipping it. He's a real pleasure to deal with. I'm really happy. Thanks to everyone that contributed to this discussion. 

Congrats! I am not familiar with this integrated. Will look it up. 

mesch;

It's sure made me appreciate my Silverline monitors !
I enjoyed my Jolida integrated; it was great for Jazz and other 
types of acoustic music, but the downside was that I ended up
largely limiting my listening choices to those genres. The Wells
lacks the euphonic mids of the Jolida-- it doesn't do the 2nd order 
harmonic 3D thing that you get with tubes-- when I used the word 
"dimensional" I meant each instrument now has more presence/solidity
in the mix and that the soundstage, which was formerly quite "flat", 
has much more depth. But, the Wells is enabling me to enjoy All
the music in my collection. I listened to "Blow by Blow" by J. Beck,
this morning-- just the ordinary remaster-- and it was like hearing it 
for the first time. The usual caveat re: the downside of increased resolution with poorly recorded cds applies, needless to say. 
I realize there's  a lot of hype and I also understand that each person not only hears differently but has a unique conception
of what constitutes "good sound", but I think Jeff Wells' gear deserves 
to be much better known. 

I looked this integrated up. I like the clean looks and simple design. The 'less is more' approach. Now to find a dealer located such that when I travel I might hear one. Currently  I own a Jolida Fusion pre, driving a BEL 1001 MK V.  I went from an integrated amp to separates when I moved into a dedicated room. Not because at my budget separates might be better than an integrated, but for equipment placement/cable length issues. Well also I got a great deal on the BEL.