Bitstream Dac's

Can anyone tell me what bitstream Dac's really are and are they inferior to 24/96, I own a Metronome cd-1v tube cd player and it seems to lack the last bit of detail,but is very smooth and non digital sounding, I was wondering what I was missing. Thanks

Other components are

Talon Audio Peregrines
Sim Audio W-5 Amp
McCormack TlC-1 Pre