I agree with JustinM that these are potentially very subjective areas. If you come across some of my other posts you will see that I strongly advocate the ear/brain as the gold standard for testing audio quality. In itself a very subjective area. That is likely not totally aligned with the bulk of members here.
In the nineties I pretty much read every Stereophile and Absolute Sound magazine and gained a respect for reviewers that had , what was for me, a balanced approach to assessing Sound and music quality, both subjective and objective aspects. "Balanced" of course being subjective.
Sadly the "High-End" kinda collapsed with the 'format wars' b/n DVD-A and SACD. It has been given a new lease of life IMO, to some extent, with computer-audio and the idea of delivering a digital file direct to one's HiFi. I never dreamed I would replace my coveted Levinson transport for a dam pc (feeding the Levinson DAC). To my ears the Levinson Transport still sounds best feeding the Levinson DAC but the convenience and flexibility of computer digital files is just too seductive.
I recall when I first read in Stereophile that the reviewers where testing streaming digital music I was amazed but also excited .For their "serious" listening they still preferred their cd transports as front ends but it was clear it was the dawning of a new audiophile era. As cd's replaced vinyl (some say to music's detriment) digital files will surely, I suspect, replace cds.
So with that background my personal approach is to try and achieve the most direct connection, pc to external dac > pre-amp. I stream music around the house over wifi but not to my HiFi. My DAC is not network capable and receives its digital feed from the htpc > external usb DAC with native ASIO driver > digital out (SPDIF) to the Levinson DAC on [EDIT-on plastic fibr-optic Toslink. I have a more expensive glass fibre-optic cable but it has the AT&T connectors (bayonet type) unsuited to the usb dac. I must try and find a glass Toslink to see what if any difference it makes].The usb dac acts as an external sound card and in conjunction with ASIO bypasses as much of the pc as possible for greatest possible fidelity. I can also use the usb dac to do the analogue conversion direct into my preamp via balanced XLR interconnects. It does an amazingly good job just not as good as the Levinson but considering the price differential, wow. I am almost starting to believe the "bits is bits" school of thought (not quite
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I am confident that should you choose to stream your files from another room will get excellent sound quality as well.Others here may have some thoughts on that.My guess is it will come down to the quality of the music streamer and with a robust WiFi connection.My inclination however would be to go wired.
If your streaming 24/192 your going to need a steady 9.2 Mbps bandwidth before considering overheads and dropouts etc. As far as bit rate/sampling rate is concerned I hear no audible difference b/n 16/44 to 24/192. I do hear differences in some interconnects but for me the most critical determinant of SQ is the quality of the sound recording and engineering/mastering then followed by the quality of your sound reproduction gear. If interested you can read more here
Does Hi Rez music sound better to youCheers