I have a Quad CDP-2 which I have owned for about a year. When I went to Squeezebox a few months ago, I figured I would sell the Quad and put it up on Agon. Had it sold and then it fell through and I withdrew the ad and rethought my options. I then started using the Quad as a DAC and realized several sonic benefits, including a more 'rounded' sound, greater depth and a reduction of the slight digital glare that remained in the system. So there it sits right now, but I would look at it and wonder if I should sell it and get a standalone DAC with that money, as the transport is barely ever used.
But- a few days ago, my wireless router died, so I had no SB3 tunes to play until I bought a new one. Fired up the transport on the Quad and was rockin' again. So maybe it's not so useless after all!
Sonically, the Quad is quite the bargain. In my memory, it is on par with the CEC TL51-Z I owned a few years ago (which was ergonomically annoying, what with the slider, clamp and all), and eclipses all other players I have tried, including the famed but flawed Jolida JD100 (yes, with blackplate 5751s, etc). (Note that I have not tried the big-buck machines though; I cannot justify paying that much for a technology that seems to still be in an evolutionary stage).
Finally, I can experiment with either integrateds or power amps, due to the variable output option. Which, btw, is not bad at all - I haven't done a very strict A-B but I haven't felt any obvious deterioration of sound when using the variable outs (at any level) vs fixed outputs. (The Quad has a set of each).
Sounds like an ad, doesn't it? Well, she's not for sale, for now at least. For my modest investment I got four darn good units - transport (it even has digital out), DAC, integrated CDP, and digital preamp, all with a very good remote control. When I bought this new from the dealer he told me that if Quad had used a full-sized case and a fancier faceplate, it could easily be marketed at $3K. Although I shrugged this off as salesmanship at the time, I now understand and agree.
My unit has been trouble-free, btw. It is an original CDP-2 and not an upgrade to '2' status, which I understand has had its share of problems.