I have since acquired a Playstation 1 Model SCPH-1001 (the "original" grey box PS1), and I am using it with my recently serviced Naim Nait 1 integrated amplifier. I purchased a PS Audio xStream Power Punch C7 power cord from AVOnline and connected the CD player to my Nait using a Chord Company Chrysalis RCA-DIN interconnect cable. I can say that I am no longer using my Onix XCD-88 CD player. The Playstation 1 just sounds so much better with excellent frequency extension (i.e., no rolled off frequency extremes), transparency, soundstaging, detail, and yes, PRaT. I concur with Jeff Day of Six Moons in his assessment of the Playstation 1's capabilities as a Redbook CD player. For $25, PS1 Model SCPH-1001 is a phenomenal CD player. For a few hundred dollars, this would still be a great player. I am not sure if it's a $6,000 player as I have never had one in my system.
As for Model SCPH-9001 that I previously referenced, I have given that to my five year old to play kiddie video games. I have purchased a couple more units for spare parts. I have to admit that the PS1 does look a bit strange with a substantial power cable connected to its power inlet. Now that I have the model with RCA audio jacks, I no longer need to roll my own breakout cable.
I was skeptical about the Playstation ravings, but my ears are confirming why people have taken to this little CD player bargain.