Use a gDVD/CD player as transport with a good DAC?

Someone that I really respect told me that the cheapest way to get a high-end audio player is to buy a DVD/CD player - good one - say Panasonic/Technics for $ 500. This way you get the latest possible in transport technology. Use the digital out connection on the DVD/CD plyer and feed it into a DAC such as Bel Canto, Theta, Electrocompaniet etc. I am very intrigued. Any thoughts?? Has anyone tried this. Which components did you try and how is it working?? Thanks in advance.