Importance of a DAC's elements

I have a decent handle on the relative merits of various engines (e.g., single-chip ESS devices, FPGAs, R2R ladders, ring, etc.) so I don't need feed back on that topic. However, let's take the "streamer/renderer". Is there any benefit from that function being a separate component versus being a board inside?

just convenience, and form factor

What are the most important considerations in evaluating them?

quality of sound, ergonomics, flexibility of use (sources) and connectivity

Currently, standalone streamer/renderers cost from under $2,000 to nearly $15,000. What do the higher priced units offer that the lower priced ones do not?

usually (but not always) better in the above mentioned aspects

Also, I can appreciate that the analog output function of a DAC is extremely important in determining the quality of the outgoing analog signal. What makes one analog output better than another?

quality and thoughtfulness of implementation (design, parts quality, voicing)

What should I be looking for to ensure that this output doesn't undercut the quality of the conversion done by the DAC itself?

read reviews (formal and informal) to cull candidates, buy and try at some length, choose ultimately based on your own experience not what others say

DAC stands for digital audio converter. Nothing about streaming. Go fish.

Do not buy a DAC and streamer together get them separate, unless your starting out in the entry level. I know there are many decent streamer/DAC's but from my experience the DAC is always the week spot in the Streamer DAC's.

Second find a streamer you like the interface/app for that to me in one of the driving factors in streamer long term satisfaction. Sound quality is really minimum for streamers, I've had everything from PC, Nucleus, Chord to Aurender and there is not a huge difference if you have a good external DAC.  

If you are streaming many things I used to think we’re not that important see below.

from your router- modem, a Linear power supply . A great one and very good price ,Linear Tube Audio , and comes with what others charge $150 for the good DC cable to router is included , the pathetic wall wart that comes with router adds tons of noise mine only$700 if bought on Audiogon ,$50 off. Then you need 2 quality Ethernet cables, a quality Ethernet switch like LHY SW-8 which is by far best built for $600  that being said you can spend $1000s on a switch ,as well as cables

look at Sablon Audio, I have a AQ Diamond from router ,end point makes the most influence ,the Sablon Ethernet cable only $400 and is at least as good as my $1300 AQ Diamond . The dac depends on your budget . Best value by far

for under $2k, the Eversolo A8 very respectable streamer and dac ,with a true Resistive ladder preamplifier ,if you choose to use it .Anthony At                   Perrotta Consultants gives very good deals and a good Power cord is needed to ge tthe most out of the dac . Depending on your budget , You mentioned you are new check it out many good reviews .

Specifically designed separate streamers/servers usually have the advantage over DAC/Streamers.  I say usually since when you reach the $20K DAC/Streamer category I find the difference is SQ over separates is minimized.  I have even heard some integrated amplifiers where power supplies are all separate as if the one box is really three separate circuits, and the unit sounds better than separates (or at least the separates in my system).   But you will need over $50k and you loose flexibility.  My recommendation is a separate streamer and DAC.  
 

I recommend a streamer/server since I find playback of downloads better in SQ than streaming or at least a buffered input when streaming like on Aurender or some others.  
 

Execution of design intent from streaming input to analogue output is what matters.  For get all about processing technology and streaming platform. So yes annalog output is important since it is part of the design intent. For example, an DAC with a tube analogue output may have SQs different from a SS output, although I fine in higher end equipment that difference is minimized.  Each brand will generally have a signature sound associated with their design intent.  Therefore, you need to determine what are your SQ qualities you prefer.  Do you prefer an upfront presentation or more back of the hall presentation.   Do you prefer crystal clarity or a more opaque sweet presentation, do you prefer dense images or will you be satisfied with lighter images … and on and on.  With DACS, some of my notes are Chord Dave has intense clarity and detail, DCS Bartok  slightly back in presentation with lighter images than say the Mola Mola Tambaqui and Bricasti M1 S2.  Recognize all are exceptionally musical and the choice based on your preferences.  First read reviews.  Pick what you think meets your preferences. Then audition and make a final decision.  
 

in conclusion, I hope I answered your questions.  Go for separates.  Determine your preferences.  Conduct research.  Make a decision based on auditioning.