I own a Cal Ikon MK II (no HDCD upgrade) and it is indeed a fine player. I've done a weekend demo with the Cal Alpha/Delta and there are subtle differences in low level resolution, descernable, but not earth shattering.
I also tried out an Audio Research CD2 ($3450) and it was a significant difference and incredibly musical but at a large increase in price.
I also tried out an Audio Research CD2 ($3450) and it was a significant difference and incredibly musical but at a large increase in price.