For a budget of $500 I would look for a used Bel Canto DAC-1 and just use the Sony as a transport.
If you want brand new, then a Link DAC III is a better choice than getting the Music Hall or Cambridge, since you already have something to use as a transport. They are fine budget players, however the Link III is a definite step higher.
You could also pick up a used Link II (2) for around $175 to $200. If is the same in stock form as the Link III, it just cannot handle most of the add-on upgrade boards such as upsampling, etc.
If you want brand new, then a Link DAC III is a better choice than getting the Music Hall or Cambridge, since you already have something to use as a transport. They are fine budget players, however the Link III is a definite step higher.
You could also pick up a used Link II (2) for around $175 to $200. If is the same in stock form as the Link III, it just cannot handle most of the add-on upgrade boards such as upsampling, etc.