CD changer or squeezbox or dedicated server?

If you are only going to do music in one room get a Squeezebox Touch, much better unit than the soon to be discontinued Duet. If you want to do music in several rooms get a Sonos. Cd Changer is so limited, and old school.

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No contest, get the Squeezebox.
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Music server is the option with biggest upside in terms of flexibility and sound quality. Downside is more complexity during setup, time required to rip disks, and additional time and expense to set up and keep backups running so there is a spare in case of a disk failure in order to avoid ripping CDs all over again (time consuming).

CD changer is probably the low cost option and easiest to set up and maintain. Downside is you have access to fewer disks and achieving best sound quality could be trickier depending on the changers transport and DAC used.

Hint on which way to go: few really good things in life come easy.

I have almost all my CD collection ripped to music server now (~12000 tracks) and I can use my Roku players to cue all 12000 up randomly for playback on either of two systems. Essentially, my collection becomes the content for my own personal radio station or jukebox, depending on how you look at it. I find I really like listening this way in that you find all kinds of surprises and new insights in your CD collection this way. Also great for providing a variety of music easily at parties or get togethers.