Has CD playback evolved in the last 5 years?

A recent thread asked if an older, inexpensive player should be repaired or replaced; and that has me asking the question - has cd playback technology evolved to the point where it's now prudent to replace older (say 5 years or more) players because of advancements in technology? I have an older Arcam FMJ 23 that sounds really nice, but I'm wondering if new players or DACs will give me better sonics than my Arcam. (I live in an area where I can't audition equipment very easily)