Streamer + DAC or streamer/dac all in one?

Rs507 the best bang for your buck will be a streamer/dac.

You have a lot of advantages in such a design and only one possible disadvantage, that disadvantage being you may pay for a dac that you won't use if you upgrade later.

A steaming Dac requires no digital cable to link a separate dac and streamer so you save money, you have one chassis so you save space and you need only one power cord which also saves money.

Also with an all in one you will probably have much less jitter so for the same money you should be able to achieve better sound for less money.

Even witn a dac streamer you can often times just bypass the dac stage and use the dac streamer just as a streamer.

Ultimately it comes down to listening if you have your mind set on a particular dac with a streamer you need to then listen and see how that compares to today's best streamers.

Dave and Troy
Audio Doctor NJ

I would not think of separates versus an integrated design as automatically providing sound quality benefits. The guaranteed benefit of separates is really the ability to mix-and-match and change things over time.

Streaming audio is still evolving, and fast.
The same with DAC technology.
For me, buying separates allows me to upgrade in the future-though many good companies will offer upgrades to their products.
One very good buy for a streamer/dac combo is the Bluesound Node. It also has the ability for the user to add a separate DAC, so you get the best of both worlds at a reasonable cost.
Bob

Gdnrbob, the Blue Sound Node is really a great starter dac/streamer it is not a great dac nor a great streamer it is a good piece for its price range.

The higher end dac/streamers are a huge step up in performance over the Node, these units are going to cost $1-2k ish in price. 

The Lumin D2 has the ability to act as a transport as it has a digital output as well.  

Dave and Troy
Audio Doctor NJ Lumin and Blue Sound dealers

I will second @audiotroy 's first post, the one that says, " the best bang for your buck will be a streamer/dac." (I haven't heard personally the gear mentioned in his second.) In theory at least, fewer boxes, fewer cables, less potential for jitter. I used to say, "Make sure it does gapless," but I think that the era of streamers that don't is past us now, thank goodness.

As to changes in technology making the streamer obsolete, I don't think that DLNA/UPnP, BluOS, or even Roon are going away any time soon.

Streamers and DACs are both progressing/evolving at a rapid rate, so combining both technologies in one box at least at this point seems a bit risky.  Then again, some of the better streamers come with DACs so there’s that little wrinkle.  Starting with the budget-friendly Node 2i makes some sense from that perspective, but stepping up to something like an Innuos Mini Mklll that’s not horribly expensive yet probably a good step up over the Node without overcommitting.  With the Mini you can upgrade to a separate DAC later and still be left with a darn good streamer to feed it.  Tough choices in a fast-moving category. 

Most dacs are advancing at rapid pace but LUMIN D2 uses a 13 yr old dac that came out same year original  iPhone released —ie, Stone Age tech. . Don’t buy a dac with such outdated tech as LUMIN d2

The lumin d1 outperformed benchmark and chord dacs in my setup.  Don’t discount having a one box solution.  Dac tech has slowed down while streamer tech seems to be seeing the most room for improvement.  That lumin humiliated the blue sound I was using as a streamer only.  Lumin >Lumin +Chord 2qute>Bluesound + Chord>Bluesound+ Bidat.   Benchmark and chord were somewhat equal but different