Other posters have made the same points, but my two cents:
1) The DAC is the main determinant of the sound. Transports matter, but imo the DAC/transport ratio is 80/20 in terms of ultimate SQ. I have had good DACs make average transports sound better, but not the reverse
2) DACs are more durable than transports. No laser, no disc spinning mechanism to misfire, no tray or door issues.
3) should you decide to explore streaming in the future, you can get a relatively cheap streamer, pair it with a good DAC, and have excellent results.
4) used DACs tend to be more durable then used CDPs for all the above reasons.
5) you can use any old CDP as a transport as long as it has digital outs. Perhaps your old Arcam can still function as a transport. You can always upgrade to a different transport later
If your budget was around $3K I would spend around $2500 for the DAC, new or used, and the rest on the transport.