How much should I spend on cd transport


Ever since I stepped up to seperates, I have been using the digital out of my Marantz CC65 cd changer to my Lexicon DC1 pre/pro. I have decided to re-arrange my system towards 2 channel. In doing this, I have realized I need a new pre/pro (may just buy Adcom's GFP750 and keep the lexicon for HT), and I also need a better cd player. In my research, I have found a few cd players I'd like, and am also interested in an external DAC (Music Fidelity's new DAC) for upsampling. With all this in mind, do I need to buy a $1k cd player since I may simply use it as a transport, or will a mid-fi changer be adequate?

Thanks.

Please make any brand recommendations you may have.
mdomnick
The Pioneer PD 95 is also an excellent transport - I agree that the DAC is more involved in the sound but a good platform to pick up the signal is also a must but can be had for less than great DACS -usually.
I meant not only transport as a "former heavy-weight" machines. I meant both. At the same time I've never experienced any sonical or musical improvement of a new digital playback in comparison to high quality "former heavy-weight champs". I believe that transport and DAC are equally invovled in the digital playback and the only least part to think of is digital cable. I do not believe into correction engines like Monarchy DIP and consider them to be no more than enhansers or even painters. More over some of these components already lost its value to the point where it will not go too much down. You can even re-sell them at the same or even higher price.
Do the reseach!
Hmm.
Marrakanetz says he 'doesn't believe in... Monarchy DIP." Hmm.
Stereophile suggested that a midpriced transport, fed into the Monarchy DAC, and then feeding a MSB Nelson DAC by way of the balanced connection gave great results. Indeed, I set my system up in exactly that way. I believe in my own ears. I also believe most of what Stereophile says to a point. I hopefully don't have any preconcieved notions of what should and should not be in a system.
I suggest once again only valueing those opinions that have direct experiance with the products suggested.
Why don't you ask Frank Van Alstine? He demo's his $1399 DAC with a very cheap CDP...