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In my case I have to say yes it will.  I like to think my setup is fairly high end and I am now convinced that a well setup PC/Squeezebox/DAC frontend will do all a CDP does and more. 


One has to question the cost.  Yes a SB is cheap but a PC & DAC aren't.  I started this thinking that replacing my CDS2 with a CDS3 was expensive (it is)  so using my existing PC keeps the copst down but if you are starting from scratch you'd need a PC £500, HDD £250, Squeezebox & bits £300 & DAC £2000; all in all the same price as a good CDP.


I understand the theory as to why Naim keep their DAC close to the transport, less chance of nasty interference etc but I'm not sure how that applies with a PC as the packets are nothing special until they hit the Squeezebox.  So keeping the signal path between the DAC & the Squeezebox might be important.


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