Hard to compare your DVD players internal DACs to that of a product that's not out yet. Besides, DACs are a small part of the equation; what you do after the data is converted to an analogue signal has just as much (if not more) of an impact on the sound quality.

Still, I'd use the player as a just a transport (except for DVD-A) and let the 950 do the rest; you have the most options this way. It'll allow you to listen to your CDs in 2 channel or multi-channel (using Cirrus Extra or Pro Logic II matrix decoding). If you're a purist, you can even skip the bass management and other processing by using the 950 in bypass mode. Speaking of which, the bass management and time alignment features of the 950 are probably something that your JVC player doesn't have; these alone can make a big impact on how good your home theatre sounds, let alone the surround processing modes.

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Sanjay