for $700 - 1box or 2 box dgtl playback?

GEMINI, trust your own ears first and I think you will come to this conclusion...ONE BOX! I have never heard a transport, dac, "digital lens", sonic binary filtering resequencing turbocharged algebraic jitter reducing blah, blah, blah,.....combination that didn't sound worse than a good one box unit. When you start adding all of this stuff you are INCREASING the circuit path. Also, the achilles' heel of most digital playback is a crummy output stage. Yes, most folks spend all this time on upgrading to higher sampling rates, seventeen gillion 24 bit converters, etc. and THEN run it through a noisy, poorly powered output stage. Do what Dekay above says and audition. Would suggest starting with Arcam, Creek and Rega players. Keep it simple.

Don't mean to butt in but I have a similar budget for a cd player. I have heard the Adcom GCD 700 5 disk player which lists at $700.00. It had an open warm sound. Any input on this unit as compared to those mentioned above is appreciated

I am using an Assemblage DAC-2 with a Rotel transport (RDD 980) and am very happy with the combination. I originally bought the DAC 2 to upgrade some really crappy Aiwa CD Jukeboxes, which it did in spades. I added the Rotel when I decided to get back into this hobby and the combo has been the constant in a pretty decent evolving system (BAT Amps and Magneplanar speakers). At any rate, you can probably get both of these pieces within your budget, and be pretty pleased. BTW, I agree that output stages are very important, and the DAC-2 has a pretty strong one, plus it has HDCD, which to my ears makes a tremendous difference in likewise encoded discs. If you are still in the market in a month or so, let me know. I have been hunting around for a BAT VKD5 player, and might have my gear up for sale by then. Good luck!

Kweisner: How pronounced was the difference (when used as a transport) between the "crappy" and the Rotel player?

For $700, I would first focus on a high quality output stage, your DAC section second and your transport section third. I respectfully disagree with the other posts regarding the disadvantages of multiple chassis digital front ends. When properly partnered, a multi component solution offers the distinct advantage of truly discrete and optimised power supplies. However, at this price point your best value lies in a single box solution. I would give the new Ah! Tjoeb a close look, as it marries a relatively strong tubed analoge stage to a fairly current generation DAC at a fair price. Used, this model should sell well below $500. If you simply must have separates, then I would also consider the Delta with a used CAL Sigma II 24/96 - this pairing will likely run around $800, however. The upgraded Sigma II has a good tubed output stage and solid D2A performance.