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Do a separate Pre and dac and your options will increase by a ton.
you'll also the inherent advantage of digital processing the Nad offers...
Did you leave some words out of your post? Not sure I follow it.
The AMR DP-777 Dac/Pre is one of the best. You miht find a used one for $3K or less if you keep watch.
Have you had a chance to compare it to the M51?
You don't need to use the M51 as a pre, it can just be used as a DAC.
Let me start off with this. " There is no best" DAC, CDP, etc. There are many great sounding ones out there. How it fares in ones system is the key. The source is very important. It sets the tone or character of sound. Is your system bright ? Warm ? Neutral ? If any fit then by all means look for synergy of DAC with your system. I think how we can really help here is to describe the character of players we are familiar with as a guide for audition. I'm liking the new Esoteric SA-10 a killer which can be had for about $3000. Also the Tranquility DAC. Try an OPPO as well which just might surprise you. All three have different characters. charles