Looking for best CD or Dac under $15k new.

Mejames and Chriskeating- Have you heard the reimyo? I am intrigued to try the 390s especially considering it does away with the preamp. Most reviews I have read say it is very detailed but a bit mechanical sounding. What do you think?

I will ditto the CDS3 suggestion. I have this player. It does a terrific job of presenting instruments with real "body" and substance. While I like the big, airy and open soundstage presented by some SACD machines, most do not have the weight and substance of the CDS3 (I am a former Sony SCD-1 owner).

If you have heard other Naim players and did not particularly fall in love with the sound, you should still give the CDS3 a try. It is the black sheep of the Naim family. To me, it does not have as hard an initial transient edge (might sound a bit dull to some), and it is not as rhymically insistent. That translates into a less mechanical presentation.

I also like the Audionote DACs. They are unfailingly musical. They may be a bit "warm" in coloration, but they never sound sluggish and dull. Great, though somewhat pricey stuff.

The Audio Aero Capitole is another promising machine. It is nice and open on top and is utterly free of grain, but, in the setup I heard it in, it was a bit lean in the midbass.

I also like the Burmeister 001 that I heard in an unfamiliar system. The sound was smooth, warm and musical.

I would definitely suggest APL modified Denon 3910. It compares favorably to Exemplar (many consider it better than Exemplar) that has been considered almost equal to Reimyo ( http://www.6moons.com/audioreviews/exemplar/denon.html ). I purchased this unit 2 weeks ago and in my opinion it is one of the best sounding units on the market.
It also has a volume control built in, so you would be able to eliminate your pre-amp. If you follow few discussion threads from this site, you will learn more.
Good luck in your search.

Linn UniDisk 1.1 - hands down

I don't think the 390S is mechanical at all. Prior to using all 47Labs gear, I preferred the 390S over the Wadia and Accuphase that I owned. I found it smooth, detailed but not emphatically so, but just a bit reticent. It is relaxed. I would use it without the preamp if you can. It sounds better this way.