Replacement CD Player?

As stated the main difference between203 and 205 ( just like 103 and 105) is in the audio.
The 205 has much better built in DAC than 203.
But if you are going to use just as a transport then yes it would be a total waste of money. However the 205 might be more of a future proof purchase if you also decided to change your preamp at any time.
Your choice.....

Thanks everyone for the helpful responses. I went with the Oppo 203 and connected it to my 561 via the optical ports. 

Very pleased with the result!

Good deal OP
Now just enjoy

FWIW - been listening to my Hegel CDP-4 lately, first CDP I’ve owned that takes me beyond comparing CDs to my much more expensive and preferred medium vinyl rig.  I just forget about thinking ‘what’s better’ (and why) and enjoy listening to music. Fantastic player.  I’ve owned Marantz, Electrocompaniet, Jungson, and NAD players and the Hegel sounds so much more like analog it’s just not a fair comparison.  Highly recommended.  Zero shortcomings I can think of;  it no longer feels like a compromise when I cue up a CD.