best cd player for 300-500 bux

So far used Alesis Master Link ML9600 for near $500 will get you one of the best red book CD playback + recording and possibility of the superior CD24 format you can get the benefits from and finally great headphone output capable to deliver 180mw i.e. drives upto 50Ohm impedance earspeakers without headphone amp(although I'd recommend for the better volume control). It also has digital in-out so you can use it as an interface i.e. DAC as well.
Got one recently for copying my records to CDs (has superior DAC and ADC)... Maybe it's a 'toy' but can't stop enjoying it how it does recordings and playback!

One more thing to check before making hearing or any kind of failure conclusions:
CDs tend to degrade with the age. Re-recording CD onto the CDR might solve the issue. You will also need to increase the recording level by few db if the software allowes you to do so. I use Sound Forge to edit my recorded CDs and that helps alot.