Best standalone music server?

Thank you uberwaltz for starting this post. It is full of good information. I don't want to steal your post and please let me know if I am doing something I should not do.
I am new to Audiogon, and I am trying to learn about streaming, also. I am very computer challenged. I have saved all my music files on Microsoft Media Lossless. Do I need to switch them to Flac? A brief Flac for idiots would be great, so I can inderstand why. If I need to convert, do I need to redo all of them or can dbpoweramp convert them?

Thank you ubewaltz for starting this post. Years ago I worked & owned audio stores. I have been out of audio for 30+ years. My bucket list included getting back into music, now that I have the time to enjoy it. I have gotten a pretty good system for vinyl and have been trying to educate myself on digital. I am fine, when it comes to vinyl, but digital is a different store. I remember the first time we got a CD in the store and a player. We hoked it up to our Ref. system (Mags MG2s, Mac C28, Mac 275 and a B&O linear TT ) and quickly realized that the cassette tape sounded just as good as the CD and compared to vinyl the CD was a joke. That being said, an Edison phonograph compared to what we have today, you have to start somewhere.
I have been debating getting a good CD player with a DAC, seeing as I have 500+ CDs and all the CDs are on my computer. After reading all the outstanding comments in this post, I am forced to rethink the CD player. I was looking at the Esoteric, Ayon, and the ARC players costing $5000+ on average. The idea of a streamer sounds fantastic on the surface, but I am far from a geek. In fact I spent as much time looking up what computer terms meant, as I did reading the post.
I don't want to start up an old battle, but in reading all your comments as to the sound quality of the Vault, I was wondering if you had ever compared a CD, tidal, or streaming to Vinyl? I have been listening to music from my Ipad, phone, or bluetooth MP3 in my car and to my AV system. The other night, I finally got the system I have been putting together to play vinyl and played a record. I must say I was blown away. I had to just sit an enjoy the music. Can't believe I was away from it for so long. 
I just wanted to put my 2 cents worth regarding coping CDs to the computer. I am sure I have purchased the same music over and over thru the years. I have purchased my favorite music on 45 rpm, 8 tracks, cassettes, LPs, CDs, buying off the internet, and now with say Tidal, I have to pay per month to listen to the same music I purchased many times before. No wonder the records companies make so much money. Than goodness for the internet, so anyone can get there music to the public without the record companies.
 

Uninteresting that the Vault sounds the best. I would have guessed the Esoteric would be on top but it could also be the DAC making a difference. Is the Mac a tube DAC?  Have you ever compared vinyl or is that a bad word, when we have obvious peolple posting, that are probably digital only. I have all my old LP's and all are in mint condition and also have many CD's that have newer artist not available on vinyl.

I saw "hickbones" earlier post about the Aurender where you auditioned both players and got the N10. At this point I do not have a DAC, Streamer, or CD player. I can play a CD but with a Sony blue ray player.(yes a $49 dvd player) I have read as much as possible about streamers and the Aurender and Lumins seem to be the best. Uberwaltz's experience with the Vault has got me thinking in a hole new direction. If it sounds better than the high dollar CD players that's amazing. Maybe they will come out with a new Vault with Balanced outputs.

@mahler Very sorry. It was never my intent to start a debate. I am new to forums of any kind and will have to be more attuned to what I post. I very much want to get digital music in my system and I was thrilled to hear, that the Vault sounded so good and most of all, I feel I might be able to learn how to use it. Yes, I love vinyl, but it is a pain. Digital music is much easier and lets you enjoy it without the record ending, getting up, cleaning it, and putting  it away. All I know is Bluetooth to my AV receiver and it does not sound that good. Maybe I should have asked to compare the sound to MP3 or Bluetooth to get a comparison.

I have been using a friends Wadia 321 DAC mostly as a learning experience. I sent an email to Aurender about compatibility and got the attach response. If I read correctly, it looks like I would never use DSD as the music offered it nothing I would listen to. Is my thinking correct or is there something I am missing? The more I research the more the Vault looks appealing. My only concern is I would have to use the RCA outs or buy a CD player with DAC. 

Response from Aurender:"The Wadia 321 should be compatible with the USB output of the Aurender N100H and N10 in terms of working, however the Wadia 321 DAC is limited to 24-bit and 192kHz sampling rate. This means it cannot decode DSD or other high resolution files above 24/192. All Aurender music servers can reproduce digital files up to DSD128. If an N10 was used the SPDIF outputs could be used to connect, but then again, you are limited to 24/192 by both server and DAC. If playing these kinds of files is something you want to do, then perhaps you should consider the A10 and it will also give you full MQA decode. MQA files and Tidal streaming of MQA files sound exceptionally good."