Got the Chromecast gadget set up and so far only listened through the analog output and it sounds real good. I had been using a similar arrangement using the analog/earphone output of my iPhone and with the obvious benefit of wireless access/control, I can't say if the internal DAC in the dongle is better than the iPhone DAC but its definitely not worse. This is a temporary set up until I get the optical cable and run it through the Modi Multibit which I'm hoping will sound better. All in all, its a really great device even at double the price.
I'm particularly happy about being able to stream Tidal HiFi using this device even if it probably doesn't go any higher than 24/96. Definitely good enough for this system since its main use will be vinyl. By the way, the CDs already sound better running the player through the Modi right out of the box. But that's a whole different discussion.
mr_bill, wtf - No doubt lifatec glass cable is good but for now I'm trying to manage the cost for this moderate system so ~$100 just seemed a little out of proportion. But it'll be on my list, maybe next month.
willemj, I know you've been talking about how good is this Chromecast Audio and based on my brief experience so far I tend to agree with your sentiments.
I'll do some A/B testing with the Bluesound in my main system when I get the optical cable.
Thank you all again.