Messiah:
For me the switch to HDD music was done for a number of reasons:
1. The sound quality I get from my Laptop / iPod is very close to the quality I got from my Cyrus CD6s. Granted my CD player was a touch better but that was no enough to really justify keeping it when I could make some money from it.
2. Functionality - as others have posted, I now have my entire music collection available to me from the comfort of my chair via my iPhone. I can set up many playlists for various occasions and I can also stream this to any room I choose.
3. Space saving - now instead of having hundreds of CDs taking up shelf space they are all tucked away in a nice secure storage case.
I have also found that I know listen to more of my music than I did previously. Before I would scan the CDs and just think no, no, no, until I invariably ended up with one of 5 CDs I listen to at present. Now if I don't want to listen to an album or I just want to listen to a particular track it is switched in seconds.
Faffing - to a certain extent there is a small degree of Faff. However, for me in particular it is quite minimal. I used my computer every day anyway and I regularly back up so the Faff that has had a minimal impact. I back up my files each month so if there was an issue an the data was lost (I back up to 2 external HDD's) I would only need to re-burn any CDs burnt in that period. (Faff but I have not had to do it yet)
So basically the sound quality and overall functionality convinced me that my CD player was no longer needed!
(I still have a DVD player so if I ever need to play a CD I can - this will soon be connected to some ADM 9.1's so it will only be a transport.)
Was cost not a factor? If you already have a PC for other uses adding a DAC in the £100-200 range including some cables, which could include the old ones you were using with the redundant CDP, is way cheaper than upgrading an already relatively expensive Cyrus which was £600 (if my google search was correct).