Devilboy, a more relevant subject line to me would be: "The 16/44.1 format is dead..." Maybe the answer is yes, but not in the direction I want. There are at least hundreds of millions of downloads each day at resolutions much lower than red book standards for use on iPods, iPhones, laptops and the like. For these people, clearly convenience trumps quality. This fact is polluting the recording and production arts, making recent popular recorded product so compromised and compressed that they sound like crap on high end systems. Very unfortunate.
As for the CD player, I have a bunch of music on my laptop, both downloads and music ripped from CD and stored in iTunes. I listen to this music at work on a modest system and DAC, and on the road through headphones - convenience eclipses quality in this case. I am waiting to replace my CD based home systems with HD based music server systems until higher resolution digital formats and hardware become much more common and affordable. I just don't see or hear the advantage at this point to recapitalize.
I have a close friend who is retired and has invested a lot of time to download his entire CD and LP collections to HD, and now has them all at his finger tips. Neat. To me it still doesn't sound any better or not even as good as his digital player or a good turntable. And now, he has invested much time and effort to lock his analog material into a digital resolution limited by the analog system and ADC used at the time to re-record it, an affront to the quest for the Absoulte Sound in my mind and major sacrifice to convenience.
The CD player may be receeding as the principal music format, but I think rumors of it's imenent and complete death, among audiophiles at least, are highly exagerated. And if it does die very quickly, it will likely be replaced in the mass market by source material and equipment in most cases that is of lower quality, not higher quality, than what we had before. When I can access popular and affordable download pipelines and the ubiquitous iPods/iPhones can routinely handle and play 24/96 or better resolution digital music, then the CD format can rest in peace in mind and closet.