The Meridian is older, and getting replacement transports can be an issue. If you listen to Redbook CD only, I’d suggest considering a decent, low cost transport and DAC.
For a little bit more than your budget you could get a Tascam CD-200BT and a Schiit Bifrost Multibit. The Tascam has a dedicated 44.1 clock and a real Teac 5020 CD transport, not a re-clocked DVD or Blu-ray player.
Match that up with a <$100 SPDIF cable, and you’ll be close to state of the art for CD playback. You could also just try the Tascam as a CD player first to see if you like it.
You can try the Schiit DAC at home for a small fee.