Don't know how well the Meitner does, but I can say that it is not a truism that the better a system gets the worse badly recorded CDs sound. Though I also had this misconception, over the years we have found that, like everything else in this hobby, blanket statements of fact are rarely true more than, oh, say, 50% of the time.
This concern of how to build a system that allows us to play (yes, and even listen to) older CDs is one which we share - as we were young(er) and no smarter then than we are now at the time of the early 80s and so foolishly bought up new CDs as if they actually had the music on them that was displayed in the pciture on those tiny little pieces of paper showing through their often cracked and chipped plastic containers; this picture (and, as we came to discover, the music on the CD itself) often resembling in some lilliputian way the covers (and music) of LPs that we knew and loved. ;-)
Luckily, some tube digital seem to have a way of creating music out of too-few-bits and somehow do it in a way that is able to communicate the original feeling and instensity of the music. Luckily, it also helps that in a lot of the badly recorded music of the early to mid 80s, not a heckuva lot was really going on in terms of the complexity of the music (though, of course, there is also stuff like King Crimson, Frank Zappa, etc. are just plain hard to render on any system - no matter how good the recording is).
For example, we have found the Audio Aero Capitole to be excellent and making bad recordings sound decent, the Audio Note DAC 3.1x Balanced and 4.1x Balanced also, though slightly less so. It would seem that other tube CD players (like the Cary) and DACs (like the Zanden) might also do a good job (I have no extended experience with these regarding this matter of The Infamously Awful Sounding CDs).
This is not to say that solidstate digital is unable to render a bad CD in a listenable fashion - just that it seems that many do not (Levinson, Krell, Wadia, etc.) and do infact do as badly or worse than cheaper CD players.
Enjoy!
-Mike (Audio Aero and Audio Note dealer with lots of bad - and, yes, quite a few good, as well - sounding CDs)