dac and streamer or seperates

I think most of the magic is in the DAC.  I would spend most of the money on a DAC and go with an entry level streamer.  Others here disagree.  

But I have run a high end DAC with an Allo USBridge Signature DAC with power supply and was very impressed with the sound.  Upgrading to a $5k streamer then improved performance, but not nearly as much as the DAC upgrade.

Jerry

Obvious advantages for separates is ability to individually upgrade.   The PS audio streamer just came out for $2K and they have factory refurbished DACs (direct stream mkII for $3K

If I was going all in one I would look at the Moon 280D 

If you really like the immersive arena look at a ROON setup.  That will keep you busy. 

@jbuhl 

That would be a tempting combination, but the DAC is the old version.  They are selling the trade-ins when people buy the MkII.

May I ask how you listen to music and what type of music you listen to? What are the important criterion?  Since your room is well treated, i expect you pay attention to those details. 

An audition of the variations you’re considering will inform better than any of us can. That said, since you asked, I will offer that my experience brought me to the conclusion that  the streamer is more important than the DAC. I’ve listened to a fair number of DACs well above the price point you’re considering. They’re different of course. But the better streamers opened up the music with a given DAC more than a better DAC did with a modest streamer. My experience only - YMMV so an audition is a must. 

Complicating things is that most DACs have certain inputs that are better than others and may be revealing of the cables used to connect them. So, you’ll want to pay attention to those details too.  In any case - let us know of your progress. 

Best,

I recommend separates.
 

I’ve been doing streaming by about every possible way in the last twenty years. Typically the streamer and DAC should be of about equal investment. You want as high a quality you can get in each (picking the very best you can). Particularly in the DAC you want it to support your musical preferences. Pay particular to the sonic characteristics. Particularly in this price category you can get highly detailed fatiguing DACs. 
 

I recommend Aurrender streamers… used would be required since their lowers price models are over your budget. I am not familiar enough with current DACs in this price range to specify a DAC. But… you might leverage the sound quality here as well by getting a DAC less than five years old. It is likely to put you at a higher level of performance. 
 

Typically SP/DiIF / AES are the best performing connection… but depending on the streamer / DAC USB might. But the difference is not likely to be large. Something you can play with after you get them.