When using a DAC does the cd player really matter?

IMHO the DAC is much of the sound presentation and much more important that the transport

thanks for the responses guys. my plan is to use a ps audio digital link 3 with the level three mods. from talking to a few people they say that it makes redbook cd sound like sacd. so i was hoping that i could avoid having to buy a "good" cd player. i am currently using a sony dvp-ns900v that was supposed to be modded by tube research labs (trl). but i am having second thoughts about doing that and going instead with the ps audio dac.

I kept my Jolida CD100 and added a PS Audio DL III. What a difference in sound. I think you will be very pleased. When $$$ allows, I too want to see what Cullen can do with mods. You can also add a computer via USB or second digital stream via Toslink. A great machine.

It also assumes that the transfer of bits from CD to hard disc was perfect, i.e. bit for bit and error corrected and that the reading of the data from the hard-drive is perfect. These are much better assumptions than assuming that your CDP reads every bit perfectly every time. Back to the original question, the lower the jitter that is sent to the DAC, the less jitter out of the DAC. The more jitter-free the transport, the lower the overall jitter in the signal passed to the pre-amp. Is it audible? Only you will know. Some say yes, some say no.