If you want to use your PC use a high-quality sound card like Turtle Beach or M-Audio. Do NOT use an onboard software-based "AC97" type sound controller. As far as playing cd's on your computer I've read that the transports in good CD-ROM and CDRW drives are as good as those found in some "audiophile" quality cd players. I like NEC drives. Panasonic too. As mentioned above it is probably best to output digital and let your receiver do the D/A conversion. Or I guess an outboard DAC. But if you're going to spend money on an outboard DAC why not get a good universal player to begin with? Ay, therein lies the rub. No SACD/DVD-A for you!
