MF V-DAC and power supply


I know this is a very elementary question for most of you buy I'm hoping you will help. I have a pretty good basic system with:

1. Cary SLP-94 Preamp
2. Balanced Audio Technology VK200 Amplifier (SS)
3. Tube Audio Design 60 Amplifier (tube)
4. Rega P3-24 with TTPSU, upgrade subplatter (Groovetracer) and counterweight (Mitchell), Herbie's mat, Clearaudio Virtuoso cartridge
5. Cambridge Audio 650 CD player

I want to get into PC audio, so.......I ripped all my CDs into Itunes Apple Lossless. And now am at a loss (less)

I am thinking about buying a Musical Fidelity V-DAC with a power supply upgrade and using it to to play the files through my system. My questions:

1. Is the MF V-DAC good enough? That is, will I be satisfied with the sound through the system that I have or do I need something better?
2. Do I need to do anything other than hook the V-DAC through the usb port on my laptop and hit play? Or, do I need to do more in relation to lossless or to playing the damn thing?

Thanks for any help you are willing to give.
6. Acoustic Zen Adagio Speakers
gmsasso
Yes it is good enough, I use it with a fairly expensive/exotic system and works very well. A friend just got one also. I use the ""Little Pinkie" power supply with it and recommend it as well. To get better costs a lot more according to my own experience and HIFICRITIC tests; they take no ads and assign numerical ratings to the products they test for comparison purposes. The V-DAC was not only better than competing products like the DAC Magic [ which is quite good itself] but considerably better than much more expensive products like the Benchmark DAC. In any case you can order one with return privileges from Music Direct or Audio Advisor.
Thanks Stanwal, I was hoping that was the case. I have read a number of reviews and comparisons and the V-DAC seems to play way above it's weight class.

So do I just hook it up and hit play on my computer. Will the V-DAC pick up the highest sample rate from the lossless file?
i use the vdac with a wireworld usb and itunes lossless. sounds great. i decided to buy the puremusic player for my mac instead of the upgraded power supply so far. i also have the hrt music streamer which sounds good too but you can plug 3 different inputs into the vdac which is important to me.