Jond,
Thanks for the comments.
The Sim Equinox certainly is a wonderful CD player. But it's just not a fair comparison to the Benchmark. From what I can tell, the Sim just tends to sound a little "dark" compared to the DAC1. While I know it's somewhat heresy to reduce the equinox to a transport, the Benchmark really does open up some detail in the recording. At a loss of a better description, it sounds a little more "open" than the sim's output.
With that said, the Sim's sound was actually a better match with the Triangle Comete ES (which tend to be a little "hot" if you're sitting in the sweet spot). But, with the Dynaudio Contours, the details really come through in the Benchmark DAC1. I've been doing A/B tests for several weeks now, and I keep coming back to the DAC.
Speaking of Hi-Fi heresy: I just hooked up the Apple Airport Express to the DAC1's optical input and am now using my laptop to stream Lossless-encoded files to the system. The Express actually seems to be quite a decent "transport" since it has a built-in jitter buffer (about one second's worth, it seems) to compensate for the ethernet/802.11 jitter. In combination with the DAC1, the bitstream seems damn near bullet-proof -- and I certainly can't hear the difference between that and the coax input from the Sim Equinox.
Aah. Geek heaven. :)