I expect any external dac will beat the ones built into a blue ray player, although you'd have to try it to decide for yourself.
As far as the DAC magic vs. PS Audio or Bel Canto, the latter 2 will be better, but again it depends on how much you want to spend. Usually it makes more sense to spend a little extra and get what you really want as opposed to buy/sell/buy again.
As far as the DAC magic vs. PS Audio or Bel Canto, the latter 2 will be better, but again it depends on how much you want to spend. Usually it makes more sense to spend a little extra and get what you really want as opposed to buy/sell/buy again.