The vast majority of DACs are just not as good as a dedicated preamp. I know the skeptics out there will say digital is digital, but it's more complicated than that. The quality of the gain is what missing on DACs and the quality of that analog signal to your amp matters a lot.
DAC as pre amp
This post is just a brief for posterity sake in regards to the the significance of a good pre. As I have stated in other threads over the last few years , when the subject arise, I occasionally remove my pre from the chain and run my Wadia 321 as the pre. I always find my way back to my dedicated pre. I got some Quad Z-4s awhile back and after a recent post regarding the DAC direct question I decided to try again. This round the improvement was even more dramatic with the dedicated pre and the Quads. My modest system is good enough for my level of listening sophistication. but If I ever decided to upgrade a component in the future , the pre would be the unit I would explore. Another member stated that a good pre will ad a "richness" to the sound. I think that is exactly what I hear.