Confused - what to buy DAC or CD player?


Folks,

I need people's opinions in figuring out my next component - CD player or DAC. Unfortunately, I won't be able to demo the cd players and DACs at one time to do head to head comparisons - so I'm requesting your input.

My current system:

Speakers: Soliloquy 5.0s
AMP: Sim Audio i-5080
Currently using a Toshiba SD 3109 DVD player for a source (but I don't like it).

I'm willing to spend up to $700.

The options I am considering are:
1) Rega Planet 2000 - around 650 used
2) Bel Canto DAC 1.1 - around 650 used
3) Channel Island VDA DAC and VAC P.S - 500 new

The music I listen to includes rock, electronic, classical, r&b, etc.

Please let me know if there are other cd players/DACs that I should consider and/or what you think my best option is and why.

Your help is appreciated.

Thanks
jonnyk
Just a note regarding Mdomnick's plan for jitterbox/DAC. I own and highly recommend the Monarchy DIP24/96, which sits in between my Theta Pearl and DSPro Basic IIIa. But effective as it is, it does not render meaningless the differences between transports. My Pearl still sounds clearly better than my previous players used as transports, even with the DIP's jitter-cleansing action. (And the whole digital mess sounds even better when fed balanced AC from my recently acquired API Powerwedge Ultra, vs. my older regular version of the same. As usual, everything matters.)
I like Craig's advice of getting the DAC first. I once owned the Bel Canto DAC 1.1 and enjoyed. I bought the DAC to use with my Musical Fidelity CD player, then eventually changed to a Theta Pearl transport. I know Bel Canto recommends using a DVD player as a transport, but many people who've owned this DAC had great results pairing it with a CD transport as I did. There are lot's of good DACs out there that can be had at reasonable used prices. Consider also DACs from Audio Note and the discontinued EVS Millenium DACs. Good luck!
Channel Islands has a space on harmonicdiscord.com where you can ask Dusty Vawter your questions directly. Best advice would be to listen and compare. Darn....
zaik,

thanks for the input...given the budget, and my own budget, i think my plan is valid, but would completely agree a better quality component should certainly provide a cleaner signal, maybe a tweek here and there, and therefore sounds better. I'd like to own a Anthem CD1, i'm eager to get HDCD, and upsampler as well. i'm just not buying into sacd/dvda yet, and wanna stick with 2-channel.

as for the balanced AC, i'm a proud new owner of the CinePro Power Pro 20. Thats what prompted the decision for better quality cd components.
Gunbei:
Are you still using the Bel Canto in your system?
Drrasta
VERY INTERESTING
I took a look at the products and that reminded me of a suggestion in PS power forum in the asylum that suggested use of 240 power if your equipment has the option is basically balanced power..... will require electrician work.
What stopped the project in my case was that I have no simple switch to change my amp and schematics are lacking and directions as well.
But this option will require no changes in wiring or equipment so it´s very user friendly. Any other member has tried balanced 240? Comments welcome