Here's a better option for you.... having all of the equipment your asking about I think I can answer you pretty well...
For the 7XX... the Nano does "just" drive them... I can turn the volume control all the way up and can listen at that level all day... its loud but not too loud... but...
I also have mounted an O2 with my Nano... in that configuration you turn the volume knob on the Nano to full on power and it turns the output to a Line Out just like a pre amp...
With this Nano/O2 the 7XX are driven much better... you can use high gain or low gain and have plenty of power... more than enough power..
The way I mounted the two... the O2 case can be purchased with rubber end bumpers... they look great and work very well...
The Nano sits on top of the O2 and then two bands hold it all together... a super nice package that not only works with computer/laptop but also Iphones...

Now to the question of the DAC... the ODAC was an after thought to the original O2.. its a pretty nice solution for folks that wanted a O2 DAC combo... there are two downsides though that you might consider... when the DAC was added to the O2 there wasn't any room for the batterys... so you have to run the O2/DAC off of main power... so your portability goes away.. and the DAC itself is not a world class updated DAC as that used in the Nano... it will not work with DSD files....
So your playing only FLAC and say you don't think you need a DSD DAC.... well you don't need to have DSD files to use a DSD DAC... using JRiver Media Center 20 you can take all of your songs and have it upsample all of your songs to DSD output into the Nano... it will even make your MP3 songs a little better during playback...
And if you ever do deside to get DSD files (some are free) then you would have the Nano for those songs... thats not an option for the ODAC ever..
So, Start out slow... get a Nano... than later add the O2 ... you'll enjoy the 7xx with the Nano and have a good upgrade path to look forward to later...