Logitech Squeezebox sound compared to CD Player

I have finally purchased a SBT. I am liking it so far. I am using it stock currently to have a point of reference. The sound is good but have not done any serious comparisons yet. Will update it's status in the near future. Thanks everyone!

Tune_man, How much did you pay and from where?

I paid $231 (free shipping) from Amazon. The price seems to be a lot higher now. I purchased mine at the end of February.
I am really enjoying it. Very convenient and sounds good.

I run a SBT - Peachtree DACiT -- Jolida 302 -- Tyler Acoustics speakers.

I used to have a Jolida JD100a CD player. For the most part I could not tell the difference between SBT+DAC and the Jolida CD player (a $1,000 unit). There were subtle differences in the sound but I could not tell that one was better or worse.

I no longer have a CD player -- are files are FLAC.

Have had the SBT now for 9 months and am loving it. Am running it stock through the analog outs to my preamp. Sounds a little veiled in comparison to my Denon DVD-2930ci but pretty close overall. Thought I would use both players equally but the convenience of the SBT makes me use it 85% of the time. I am running it wireless and it works great with 100% wireless signal strength most of the time. I ripped my CD's using JRiver (FLAC & WAV)and are stored on an external HD.
I purchased at a good time as the price has skyrocketed as of late. Thanks for all the great comments!