Hello Tonyptony ... responding to your question my unit is the Proceed CDP from 1997. I am not aware of a CDP2 or 3; they used that type of designation for an earlier generation product called PDP, PDP2 and PDP3. Is that what you were thinking of?
Any way the Sony sounds better than the CDP on many fronts. First instrumental timbre, next tighter bass as well as more bass ... e.g. the bass player in a jazz band is now much closer to the live performance, and finally less of the edginess one can hear in some CD's. The CDP was very musical, and still is, but D to A conversion technology appears to have advanced and the Sony benefits from it. The Sony requires a lot of burn-in ... out of the box I thought I may have made a mistake, but after 25 hours it was better. After 100 hours there were no doubts ... I listened to Mozart's 40th at Avery Fisher and while that sound was still fresh in my mind, to both the CDP and Sony at home. Dispelled all doubts as the instrumental timbre was so much closer to the live performance. I hope this answers your question.