The analog signal cannot exceed the digital resolution (16bit/44.1kHz or 2^16 pulses for every 44.1kHz sample) that originated it...

If you take the digital data directly out of the transport and then by-pass the ADC stage of the amp feeding it to its DAC only, you'll end up with an UPSAMPLED signal at amp's switching frequency...

Now, just imagine you have a perfect DAC within your CD palyer and an equally perfect ADC within your digital amp... feeding the amp with the CDP's analog output surely would give you exactly the same UPSAMPLED signal as before...

Moreover, any superfluous DA or AD conversion can only further degrade the sound...