Old Philips CD as transport or new playe


I need help with an upgrade. I have a 10 year old Philips CD-50 CD player, which happens to have a digital out. I see my options as:
1. Use the Philips as a transport and buy a reasonable (e.g, MSB or Perpetual) DAC; or
2. Toss the Philips and get a new player or transport-DAC combo.

Can I get some input on whether a 10 year old player (original retail about $300) will mate well with a new DAC or is it too old to be worthwhile and I should buy a new player/transport-DAC? Prefer to stay around $1,500.

BTW, the rest of my system is Plinius SA-100 Mk III amp, Rogue 99 pre-amp, into Coincident Super Eclipse speakers.

Thanks for the help!!
seldenr
Seldenr - I am currently in a similar quandry - my current player (CAL Icon MkII) is roughly the same age, and sounds so good I hate to give it up. My feeling is to go the DAC route. You can get alot of DAC for 800-1000. If you hate the way the transport works/sounds ... look for a used player or dedicated transport later to replace the Philips. You see alot of Theta gear on this site at unreal low prices. Good luck.
Seldener & Slingshot: I use the Icon MKII as a transport with the Bel Canto DAC and it sounds great. Out of curiosity I tried a friends new/used Meridian 506.24 player as a transport and could just detect a little more definition in the bass and mid bass, but it was very slight indeed and really could not hear a difference in the mids and highs. I have also been tempted by the Theta transports, which are said to wonderfull, but have decided to wait and see if SACD takes off. If it does I will trade the CAL for an SACD player and use the BC to improve its standard CD playack. If SACD flunks out then I will probably end up trying one of the Theta's. The addition of a good DAC (one that I enjoy the sound of) though has been one of the best upgrades that I have done. Regardless of which amp I use in the system (I switch between SS and tubes) it always sounds great.
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