Used Rega Planet or Apollo vs. affordable PC audio


I am just starting out on this, and I have spec'd out a system that I am thinking about buying - iTunes running ALC to an Airport Express, then optical thru a Van Den Hul Opticoupler to a MF V-DAC. I am curious if anyone thinks the sound will beat a used Rega Apollo/Planet, or a used Rotel RCC-1055; that's right, I like changers. Sorry. Also thinking about adding a Monarchy DIP Classic to the signal path later on. Current amp is a 15 year old Yami, running B&W 685s and a HSU VTF-1. Thanks.
realremo
Another thing about buy the CD and ripping it for PC audio - if, in 5-6 years, your hard drive goes t!ts up and you lose 50GB of music, you can get it all back. If the files are simply downloads, the lossless version may not be so readily available.
My litmus test is exactly the same. Ill be honest- I cant hear any meaningful difference between 256k AAC and lossless but I do rip to ALAC because who knows what playback technology might offer better resolution in the future. However, my reservations on buying 256k aac from iTunes are very few these days. I love the 24bit stuff and find it far superior to anything 16 bit but the catalog just isn't there yet.

In regards to a drive failing- I think it is easier to implement a disaster recovery solution that keep all the CDs around. A second hard drive or even RAID setup with some inexpensive software is easily had. Keep a 3rd HD that is updated occaisonally at a friends place if you really want to get crazy.

I think that PC audio is the best thing to happen to audiophiles in a long while- maybe even ever.
think catastrophic flood or lightning storm that sends electrical surge spikes thru anything and everything plugged into a wall. Its happened to my sister and a friend of mine (separate occasions). I think having the CD is the ultimate back-up, but I still do have a ton of download-based 128 and 256 .mp3's files in my library. I wish I could get them upgraded, but its not possible. I can definitely tell the diff between 128, 256, and lossless, when played in sequence, but picking them out in a blind test - haven't tried yet.
A fire would also wipe everything out too.

MP3 is a different story- although 256k mp3 is getting pretty transparent but aac is substantially better and almost completely transparent @ 256k imo.
Fire BAD!

I have everything at 320 mp3, chose mp3 because most newer cd changers can read it. dunno if they can read 320 kbps tho! I don't think as many changers can read .m4a (.aac), have you burned your .aac files to a disk and played it in a player? Doesn't matter for me until I get something new, my Yami changer is from 1993, so I am iPod based until I figure something out.