For me using the M-DAC as a pre is a significant improvement over my Audiolab 8000Q, so much so that I spent about £80 on this fellow...
http://www.homehifi.co.uk/products/TC-7240.html
...I still need my Q for my TT and AV, so this allows me to switch between my 'digital' pre (M-DAC), and 'analogue' pre (Q) into the same power amps...works a treat
I've been looking out for something like that for ages to switch between CDQ (which my front AV is routed through) and MDAC. All I could find were cheap and nasty switch boxes, but this looks like just the fella - good shout!
Will be buying