I've done this for quite some time - PC digital SPDIF output to a Lexicon MC-12 digital in, which uses the internal DACs to convert to analog. Very nice and a minimal number of boxes.
I have recently changed a fair amount of gear and now have a 2-channel preamp without built-in DAC, so I will have to get an outboard DAC. But, I would answer your question by saying if you have a high-end pre/pro with quality DACs, I don't know why you wouldn't do just as you suggest.
I have recently changed a fair amount of gear and now have a 2-channel preamp without built-in DAC, so I will have to get an outboard DAC. But, I would answer your question by saying if you have a high-end pre/pro with quality DACs, I don't know why you wouldn't do just as you suggest.