Well I thought I would throw in my 2c worth. I've spent a lot of time and some $$$ debating the same issues.
I started off with a Integra 80.3 and tried a number of DACs including Rega, Burson, Musical Fidelity and settled on the Zodiac Gold. Each has a distinct sound and I can't emphasize enough the importance of listening to them. I found that in my system the reviews were often spot on, but not always.
Having decided to go with the Antelope, I debated going through the 80.3 or directly into the my Parasound amp (the Antelope has a preamp with analog ins).
From the Antelope straight into the amp without room correction was pretty much unlistenable-bass was overwhelming, imaging was poor. This was not the fault of the equipment, but rather my room (even with acoustic treatments). Going from the Zodiac to Integra with Audyssey was MUCH better.
It wasn't until I tried Dirac Live as a demo that I really appreciated just how good my system could sound. Removing the 80.3 from the loop opened up the sound stage, markedly improved the image and really impressed me (and friends who came over to listen).
I am currently struggling without a true home-theater bypass - playing with volume levels is a bit tricky, but well worth it.
The demo of Dirac is easy to use and worth trying.
