the advantage of separates is flexibility. you can still find current production dacs using 16 bit, non up sampling chips. it is very difficult to find a one box player which does not up sample and uses a 16 bit dac chip.
you may be able to voice your source using two after market ac cords and a digital cables, insetad of one ac cord.
the advantage of a cd player, especially if it is tube-based is the possibility of finding applications for non-6 volt tubes. although many dacs and cd players in production use 6 volt tubes, there arev some cd players which take 12 volt tubes. i know of one dac which takes a 12 volt tube, namely the exemplar dac.
you may be able to voice your source using two after market ac cords and a digital cables, insetad of one ac cord.
the advantage of a cd player, especially if it is tube-based is the possibility of finding applications for non-6 volt tubes. although many dacs and cd players in production use 6 volt tubes, there arev some cd players which take 12 volt tubes. i know of one dac which takes a 12 volt tube, namely the exemplar dac.