CD player just tanked.

Brief introduction: I just recently inherited a hifi system (Audio Research LS16 pre-amp, Proceed HPA2 amp, Aerial Acoustics 7B tower speakers, Arcam CD92 CD player). I'm new to this audiophile stuff but am enjoying the system and learning about it.

Was listening to Dark Side of the Moon CD tonight when suddenly it sounded like the music was coming out of a can. Put in another CD, same thing. My only other source of input is iTunes via a head phone jack/RCA Y cable into the pre-amp. That sounds fine.

So I'm assuming it is the CD player but it seems like an odd sort of issue. I think this CD player is probably 15 years old but I see similar models on eBay for $300+. Wondering if it is worth trying to repair or if that is even possible. I'm also wondering if this could be a problem with the CD input 'channel' on the pre-amp. I guess I could plug the CD into the Aux input on the pre-amp and see.

Any thoughts appreciated.