Dac upgrade?


I try to get good sound at a “reasonable” price.  System consists of Magnepan 1.7 speakers, Prima Luna HP amp, an Audio Reasearch SP-3 preamp (purchased almost 40 years ago)  an HRT (High Resolution Technology) dac.  When streaming (I use Spotify Premium.  Never tried Tidal.  Don’t use headphones.  The HRT dac is about 4-5 years old, one of the earlier DACs on the market, I believe.  Was thinking of a not very expensive dac upgrade, such as the Schiit Bifrost.  Two questions for the community.  How likely is it that I will experience a significant improvement in sound with (for example) the Bifrost?  I realize that I can get a 15 day trial which would be my own gold standard.  Of interest, Schiit said they had no idea.  Second question— with a budget of up to $1000, any other suggestions?  I would require a trial for any possible purchase.  One final factor, I am almost 72 and I certainly do not have world class hearing, but I am pretty confident that I can still recognize good sound when I hear it, like the Supreme Court justice who famously said he could not define pornography,but knew it when he saw it.  Thanks!
jameslsimons
Not worth it if you use Spotify. Any old DAC is good enough for lossy compressed music.
I use a Rega DAC which, to me, is very satisfying. Are there better? Of course but the Rega has a nice "analogue" flavor, many filters to play with, a large variety of inputs and can be had used in the $500 - $600 range.
I went from an HRT to a Bifrost.  It was clearly better, and that was before Multibit.  The Multibit upgrade was substantial, and i think essential at this point.  If Spotify Premium is 44.1kHz/16bit, I'm sure you will hear a large difference.
Dweller and docknow—thanks, very helpful.  I will look into the Rega.   Shadorne—are you saying it makes no difference whether one uses “standard” vs. Premium Spotify?  I am an audio know nothing, but I would have thought that the greater amount of info on Premium would be more likely to benefit from a dac upgrade.  Not sure if it matters, but For the record, I use mid price range Voodoo cables