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If it's still working CD technology hasn't moved on that much whilst DACs have.
If it has a digital out then buy an external DAC
Having looked I see it does have digital out...... buy an iFi Zen dac and you're sorted
not sure how old the player is but would a new dac give a "better" or "different" sound ?
here is a video showing the insides of it.
would any of the internal components on display likely to need replacing after time ?