My experience with decent CD player vs. decent standalone DAC, server and HD is that they will perform very similarly. What is most important and what will deliver best performance is clock synchronization from server to DAC. If they don't synch, the goal should be to use the DACs clock, not the servers.
Not sure where your budget is but Rockna is my favorite R2R. At every price they compete, they are the best DAC that I have heard.
Read the reviews. The Wavelight is a hair warm and they get progressively more neutral as you go to the Wavedream Edition and Wavedream signature. The product is very highly regarded.
The only DACs I have heard that are clearly better than my Wavedream Signature is the MSB Reference & Aries Cerat. I would take the Wavedream Signature and NET server over a Rossini any day. But that is me. I like Rockna's more natural sound.
I am looking forward to a side-by-side with the Playback Design Dream DAC. I am going to be ordering a Playback soon I think.