My Rotel plays HDCD. A little red light comes on the front of the player when an encoded disc is played. A lot of my discs, especially from Australia, are HDCD encoded but have no logo on the casework or disc. So, it's a nice surprise to see the little light come on.
There is an improvement over normal cd playback, in my opinion. Sound is clearer right across the board, with more expressive vocals and smoother treble. The soundstage is more open, too.ÿ
The technology definitely has (had? is it now defunct?) merit and it's a shame it hasn't been fully embraced by the industry.
Big Chris, being a man, like me, who likes his music on the heavy side, I have to tell you that Tool's 'Lateralus' is HDCD encoded, and it sounds absolutely f'ing amazing! The drums and cymbol work jump right out at you.ÿ