Weak Link

Currently running Rotel RCD971 w/a modded Sugden A48b and Rega Ara speakers on sand filled Target stands (ecosse speaker cables. MIT interconnects)

I realize it is not the most resolving system in the world, but beyond that, there is something that is not quite right about the way in which the music is presented.

of the items listed above, i'm inclined to believing the CD player is the weak link.

As it stands, the sound is ok, however somewhat lifeless. There is a lack of body in the lower midrange and something about the higher registers seems somewhat off as well...Cymbals do not seem to shimmer as they should, for example, sounding somewhat...unnatural? edgy, yet dull at the same time? Difficult to describe.

I'm looking for more midrange/ low midrange presence and detail, silkier highs, yet with good extension and more 'bounce' to get my toes tapping along more readily.

Any thoughts on what my first step should be in terms of component upgrade, assuming only one item can be changed at a time (with relatively lengthy intervals)? As mentioned earlier, I feel a cd player upgrade will help quite a bit, but i'm not certain. I state my uncertainty bc not long ago, i brought my amp to a local store that happened to also have a rotel rcd971. We connected a pair of Monitor Audio GS10's to that setup and they were much more open, clear and punchy than my Rega Aras. Having said that, could it simply be the Ara's are not to my liking? btw - of course, i do realize the Monitor Audio's are far more expensive than my Regas.

Obviously, i'm at a bit of a loss and do not want to make an incorrect decision, as unfortunately, as much as i don't want to admit it, funds are very tight at the moment.

thanks people!