Depends on your musical requirements. If you just want to play CDs then a quality dedicated CDP is the way to go. If, however, you're looking at streaming or some other technology then a DAC is the better choice.
Amp; CDP; Turntable; Tuner; Speakers
Or just kill two biards with one stone - Harman Kardon HD990, or any other CDP that comes with additional digital inputs. Sorted.