I recently upgraded and my auditioning list included the Primare I22, the Rotel 1520 as well as the B&W CM5 speakers. I also listen to mostly of digital sources. So my starting situation was quite similar to the OPs. Compared to some of the guys here, I'm a hifi-novice and thought I'd go a with a 'safe' B&W - Rotel combo. Here're my experiences, but my advice is always to listen yourself if it all possible. Also throw in some stuff out of left field as you might be pleasantly surprised.
Home Situation: Overdue upgrade to a disintegrating 90s set. 5*7 meter lounge. Floorstanders not an option due to room layout. Next to new speakers I wanted an intergrated amp along with a DAC. I set my Amp + DAC + Speaker Budget at €3- €4k. Went to two local stores, I brought along my audiophile and classical music loving dad for a second opinion, as my wife isn’t much interested in sound quality - “as long as you don’t buy big ugly boxes” is the brief I got.
For amps we tested the Rotel 1520, (The RA-12 wasn’t available that day) Musical Fidelity M3i, Unison Unico Primo, a NAD with DAC (don’t recall model), and the Primare I22. The NAD was a bit loud, the Unico Primo a bit warm but second choice. We thought the 1520 and M3i were a bit messy in lower frequencies and rhythm sections and I can subscribe to the 1520’s ‘narrow’ sound of poster above. The choice for the Primare was a really a no brainer as not only it sounded best to us, it also has going for it: the (optional) onboard DAC, programmable inputs + default and max volume, Class D energy efficiency and its slick but sturdy minimalist looks. To us the I22 really sounds and appears like something out of a higher price class.
As for speakers, I’d seriously consider some alternatives to the B&W CM series when you’re upgrading from your 686s. We were able to audition the CM5 but found it lifeless and non-musical, probably geared towards home cinema setups. [The CM9 floorstanders might be a better option though – a friend owns them as part of a surround setup and I liked their staging in stereo mode]. After reading the review here, I had my sights on PM1s before listening, but was surprised how small a sound they had, with their tiny woofer - our room would be too big and we’d definitely need an expensive musical subwoofer. The Dynaudio Focus 160 ended up as our second favorite. The GX50 sounded great, but we thought it would be too small, so we went for the larger GX100 as we really liked the gold series ribbon tweeter and the GX100’s larger woofer gave the sound more depth and reach.
We ended up buying at the lower end of the budget range (after getting a nice bundle discount) and are totally loving the system. Listening to my favorite recordings is giving me goosebumps again . :rockout: I have to say that this crisp system can be a bit unforgiving to poorly recorded music and I expected a little bit more from the DAC module’s sound quality compared to the DACs in the Sonos / CD player, but the connectivity options of the DAC board is well word the extra though.
Hope this is of some help to you!