Hello all. Well, I am very new here, so please excuse this newbie question. My question is, how important is a good cd player, and what defines a good one?

The way I see it, a cd player simply decodes the digital data from a cd, and passes the digital data over coax or optical to the receiver or amplifier. Since digital is digital, I don't see what an defines a good cd player from a bad one.

On the other hand, I've tried playing cds through my dvd player, and passed the signal over digital coax to my current system, and it sounded terrible.

Second question: I listen to lots of cds, but mp3s also. Will mp3s encoded at 192 bps sound decent on a hi fi system, or will the high fidelity capabilities of the system illuminate the flaws of the mp3 source?