@ghasley I agree. I've heard a couple of very good streamer/dac combos and a couple of good DACs in integrated amps. However, there are lots of aspects of a DAC to consider and it is likely to be a component that will be upgraded somewhere frequently. The separate DAC is more convenient to upgrade.
This is a different and much less important concern that what I was talking about above. Is less expensive combo's the DAC is likely to be much lower quality than the streamer--because a moderate quality DAC is much more expensive to make than a moderate quality streamer.
Jerry