There's another nuance I would add to that...
The question is very different if you have a separate 2-channel system that is
FULLY ANALOG.
The reason is that a "CD player" typically contains both a "CD transport" and a DAC and its associated analog output circuitry.
And, while most low-cost Blu-Ray players make excellent CD transports, most
DO NOT have very good DACs or analog sections.
(Some low-cost models may not even
HAVE analog outputs... and a few really low-end models may not even have digital audio outputs either.)
If you have a good surround sound system, or a modern preamp or DAC with digital inputs, or a DAC like our XDA-3...
Then you have the option of using a digital audio connection from the CD player, and using the DACs in your pre/pro or DAC instead of the DACs in the CD player...
And, in that case, it doesn't matter if your CD player has a good analog section or not, because you probably won't be using it.
(Or, at least, you'll have the
option of using it or not, depending on how good it turns out to be.)
However, if you have a fully analog two-channel system, with a purely analog preamp, then you don't have any digital inputs...
And, if that's the case, you
WILL be using the DACs in the CD player, and its analog outputs...
And, if so, then the quality of the DACs and the analog section in the CD player will be
VERY important...
Of course, you also have the option of purchasing something to use as a CD transport, and a separate DAC.
That will give you a lot more flexibility, and a lot more room for experimentation, but could end up costing more.
Although it might be
VERY interesting to compare the sound quality of a separate $1000 all-in-one CD player
to the sound quality of a moderately priced Blu-Ray player connected to a good DAC... like our XDA-3....
If you have a separate 2 channel system just for music, you may want a dedicated cd player.
Or some feel that a cd player focused on just playing cd may sound better than a multi function unit such as a Blu-ray player.