I don't know about the Bluesound unit specifically, but, an all-in-one ripper/storage/streamer should be able to deliver very good sound. I personally would prefer something with more storage than 2 TB, and I prefer something that allows the CDs to be ripped to WAV files, but the Bluesound looks to be something to consider. You will also need some kind of portable drive to back up the 2 TB internal hard drive so that you won't lose everything when the internal hard drive fails (an almost inevitable event over an extended period of time).
A dedicated streamer/server can be at least as good as a very good CD player or transport; the sound quality will be mainly dictated by the DAC you employ to turn the bits into music.
A dedicated streamer/server can be at least as good as a very good CD player or transport; the sound quality will be mainly dictated by the DAC you employ to turn the bits into music.