Never used one, but there's a LOT of discussion on the PF forums, have a scan here:
http://63.99.108.232/forum/showthrea...highlight=dac1
I seem to remember someone checking out it's ability as a pre-amp, and not being too impressed.
Having said that, there are clearly a whole bunch of people using the DAC1 directly into a power amp, and being VERY happy with the results.
The sensible option seems like buying the DAC1 and power amp initially (assuming you like the sound of it), then when you have funds available, stuff a dedicated pre-amp into the mix and see whether you think it sounds better.
__________________