If your whole system costs $40,000....

1) Speakers

2) amps that match and compliment speakers

3) preamp (choice to compliment 1 & 2)

4) Sources
a) analog source (table and phono preamp)
b) DAC and some server or disc spinner. I wouldn't waste money on a stand alone disc player.

5) Power conditioning (if needed in your area, some don't)

6) Cables (I'm a firm believer in simplier is better cost vs benefit)

7) Tweaks - cleaners, sound deadening, etc....

if i had a 40k system. I would know that i was most likely got hit by lightening. You ask y? Because when I open my wallet and take a dollar out. Washington takes a deep breath and says mmm fresh air...

Would spend no more than $5000.00 new or used. A bigger concern would be tube or solid state player. In my system, which cost half of your proposed system I would be hard pressed to spend more than $2500.00 and it would have to do everything accept walk on water. Even if you decide on computer based music audio components having a good cd player would be always be welcome.

IMO...you can get near state of the art for $4-5K (used)...=~10-15% of total - on a $40K system.

Herman - that you for your input which re-inforces what I said - you added nothing. In fact I did answer the question as about 1/3 was spent on my front end of my system as I tried to keep a pricing balance bewteen all parts. I stayed away from recommmending what player as that is subjective and a personal choice but gave the OP what I was thinking in setting up a system.....aside from price I used a 1/3 third rule and it has worked.