Isn't it strange how we all hear different things!
Stating the obvious... to start with you clearly need a decent DAC and a decent CD spinner of some sort. In my experience, my humble Panasonic Blu Ray player played via my Benchmark DAC 1 beats any CD player I have heard, regardless of price. BUT.... what do I regard as 'good'? What do other people regard as 'good'?
My system is PMC OB1i speakers, an AVC KT88 'High End' valve amp and a Benchmark DAC 1 all connected with carefully selected cables - a combination which is very revealing of the source. My usual source is ripped WAV files stored on a file server and delivered to the DAC via Sonos (with the volume processing etc disabled). That alone is better than most CD players but spinning the CD on my very ordinary BluRay player lifts it to true audiophile standards - using the Benchmark DAC of course. Don't use the optical connection, coax beats it hands down.
I mainly listen to classical music, this system allows the full power of an orchestra to be portrayed very realistically and it also paints a precise 3 dimensional sonic image with subtlety and delicacy. Well recorded voices, especially females, really do sound as if they are in the room and you can clearly 'see' where she is in relation to the various instruments. Most people do not hear much of this because their systems simply cannot reveal it. It has become standard advice to base your hifi around a good source BUT unless you have a suitable amp and speakers, you will never hear that source properly.
Naim equipment for example is superbly musical but you will never hear what I am describing via Naim amplifiers because Naim have never really bothered about imaging. Naim concentrate instead on timing which is probably great for some people - they certainly are musical amps, just not realistic. Many other amplifiers and certainly many speakers, suffer from the same problem. Do bear this in mind when someone says this, that or the other 'sounds great'. You need to know what they like. Some people talk in terms of 'attack' and 'impact' rather than realism.
So, back to the original question - a BluRay player can certainly be a fabulous CD spinner - and cheap too. Given that BluRay players are capable of retrieving vastly more information than a CD player, none of them will struggle to retrieve the very last digit from a CD. That may explain why they really can provide a 'bit perfect' digital signal to your DAC. Just don't expect their internal DACs to be any good. Even the DACs built in to high end amplifiers are often not very good compared to a good separate one. Just go and listen to a live concert and then a hifi demonstration of the same music. It is staggering what rubbish some shops think is 'High Fidelity', they have obviously never listened to live music. Have you?