Thanks again, Ray, for all the info. I've found it very useful. This is where I've ended up:
kept my NAD CD/DVD Player and I use a digital coax cable that I bought last year (am considering upgrading to Audio Magic) to connect it to my Birdland Odeon Lite DAC which connects to my Belles 150 amplifier (125 watts @ 4 ohms, I believe) via Audio Magic Excalibur II RCAs, which then connects to my new Europas via AM Excalibur II speaker cables.
This system sounds great. I've found myself buying music instead of eyeing gear lately. My appreciation for a beautiful voice has really increased. And the soundstaging is much better than it was in my prior system.
Now, I can't help wondering what my weak link is now. My guess is probably my digital coax cable. I will also look into the Black Diamond tweaks you've suggested as well. At this point, what do y'all think the best upgrade would be? Power Conditioning, a new transport, tweaks, or what?
Thanks again for everyone's input.