I've done it both ways. I used the Northstar 192 combo to take advantage of the I2S connection between transport and DAC. However, I've used the Northstar 192 transport with a Monarchy M24 and TRL modified Audio Mirror DAC as well with fine results.
Today I'm using a CEC TL-51X with a Lessloss DAC 2004 MkII. While these are from different manufacturers the DAC has been designed with a clock output for use with this specific transport so that the transport is slaved to the DAC (user option via switch, you can run the DAC slaved to the transport as well). This combo is some of the best digital I have heard.
Today I'm using a CEC TL-51X with a Lessloss DAC 2004 MkII. While these are from different manufacturers the DAC has been designed with a clock output for use with this specific transport so that the transport is slaved to the DAC (user option via switch, you can run the DAC slaved to the transport as well). This combo is some of the best digital I have heard.