Tom,
I use an Adcom DVD-137 as a transport for music from CDs, SACDs, and DVDs(movies) my main system. My DAC is a Bryston BDA-1. I bought the Bryston for it had many coax digital inputs and knowing it did not have asychronous USB. I use a USB/SPDIF converter for computer audio.
I do believe a dedicated cd player or transport into a DAC of preference is the best way to go for redbook. I am now interested in a tube R2R DACs, looking at the Audio Mirror. I sometimes find myself just wanting to spin a CD and not involving the computer. Thus I sometimes think about replacing the Adcom DVD player and purchasing a dedicated CD transport for music and a more budget universal player for movies and the very few SACDs I own.
If interest is in spinning CDs in a transport, there are many DACs of recent vintage but dated regarding USB that remain excellent for redbook and can be had for a fraction of their original price. I have searched out these. I own a PS audio digital link III in a second system.
Cheers,
Mike