Hi Neil
Truth is any DVD player and multichannel amp will be a compromise as far as CD replay is concerned, although Arcams tend to be better than most for musicality. If you want a musical AV set-up then Arcam DVD players and multichannel amps make a better choice than many.
As for Blu-ray, it's a bit early to tell if there'll be a player that's good for music. There's still a relatively limited choice of models, although we're bound to see lots more coming out in the next few months.
So if you can get a good Arcam DVD player secondhand, I'd be tempted to go for it. I still run an 'old' Arcam DV79 and it's a terrific DVD player, as well as a reasonable CD player. However, if you're planning to upgrade to Blu-ray in the future, you might want to consider one of the newer AV amps/receivers that can handle high-def audio formats.