If you are planning to spin CD's, first reduce the jitter from the CD transport, then think about a new DAC. Either CD player as a transport is fine, but you can minimize the jitter by adding a Synchro-Mesh reclocker ($599.00) and a reference S/PDIF coax cable ($499). LPS upgrade also available.
Here is a typical transport jitter:
http://www.audiocircle.com/index.php?topic=154408.0
Much higher than you would expect it to be.
BTW, I also have a demo Overdrive SX DAC that might be available soon. It could be demoed right away with a refundable deposit.
At least look at the top DACs reviewed by audiostream. "best bits"
Steve N.
Empirical Audio