I currently own a Z1000Pro and use it as a Roon endpoint feeding HDMI into an Anthem MRX1140. So I'm using the DAC in the Anthem. Would using an NEO Alpha give me any improvement in sound quality? I have a Roon Nucleus, so I could hook up the Nucleus via USB to a NEO Alpha, then RCA's to the Anthem CD input. Or use Roon endpoint to the Alpha then RCA's out to the Anthem? (Too many choices - I'm confused).
At this level, improvement in sound quality is a purely subjective experience - as an owner of an Alpha, all I can tell you is that the DAC sounds stunning. But how you perceive that over your current setup is anyone's guess and I'd be extremely dubious of anyone attempting to give you a definitive answer. Without your room, your kit and your ears there's no way for anyone to make that call.
If you can; that is the way to do it, but it needs to be using your setup in your home. In my perception the Neo Alpha (together with Neo X) are the best around. But differences get small at the top of the line even with a good setup and good source material.