I know this topic has been hashed to death, but I wanted to add one other consideration: I just got an Audiolab 6000cdt transport running into my PS Audio DAC, and I am astonished to hear what it's doing.
If I compare any CD track on the transport to the same track streamed from Qobuz through the same DAC, the difference is pretty dramatic. Through the transport, the first thing I notice is the dimensionality of the music. It's like the difference between looking at a picture of the Grand Canyon and standing on the rim of the canyon. Really.
Instruments and voices exist as separate, individual sources. Reverberation tails are much more apparent, as is the timbre and texture of the instruments. The frequency spectrum is fully realized--I never realized how much was missing in streaming. Everything is as clean and natural as I could wish. No CD player has ever done this in my system. Using a transport elevates CDs to a point where I'm comfortable listening to them next to my Well Tempered turntable.