Depends of your definition of cheap. With 16bit/44.1kHz material, my SB Touch sounds as good as my Rotel RCD-1072 CD player ($800) playing the same CD, plus you have the option of 24/96 material and the flexibility digital audio provides. Some prefer the ritual of selecting a CD from the rack, opening it, looking over the art, etc. Certainly nothing wrong with that. However, I know I don't use my CD player anymore.
In case you are wondering, the rest of my system is Lamm LL2 pre, McIntosh MC275 amp, and B&W 804S.
Don't take my word. Do some reading around in forums and make up your own idea before buying.