Do you already have a Blu-Ray player? I have two Sony Blu-Ray players that playc cds VERY WELL, the sound is great. Not as great as my dedicated cd playeres, BUT those cost twice to three or four times what you are looking at spending.
Blu-Ray slays DVD and also the players upsample DVDs to make them appear as good as they can be. I've been most impressed with Sony Blu-Ray players and you can find a model in your price range, and you'll probably be happy. It's worth upgrading from DVD, and you'll get a cd player too.