Improvement In Sound?

I'm on a controlled budget right now, but need a DVD player. Question I have is, if I buy a good enough one, will it also serve as an improvement for listening to CD's (via analog)? I currently have (don't laugh) a Denon DCM-560 CD player ($650 new in late 90's). I started looking at the Denon 2910 DVD player and then thought maybe I should pick up a 3910 instead and use it to play CD's ... as an improvement over my DCM-560. If hooking up analog to listen to CD's, do you think I'll hear an improvement over my current 20-bit CD player?

Thanks,
Scott