Thanks for the quick response lowrider. Yes, I figured that given HDMI was designed to transfer audio and video that all cables within were not needed. This would require that the same pins in transport and DAC be used for the digital data. I wonder how standard is this? I agree that there are likely benefits from separating power from audio data, as with USB, however there must be benefits to the removal of SPDIF/I2S conversion at the DAC. Not sure how that works from the transport. As I understand it, I2S is the way a digital signal is handled within the DAC process,
I am one who tries to gain knowledge regarding the 'objective' aspects of putting together an audio system understanding full well that one must ultimately make and adhere to 'subjective' decisions toward that goal. Given that, I am motivated by the thinking that use of a NOS R2R DAC with CD playback might prove best and wanting a tube output stage in the DAC. Just wondering how much 'icing on the cake' is provided by I2S.