Difference between connecting five pin or RCA to CD player…

Not really a loss, it depends on the quality of the cable and 5 pin DIN connector, so a DIN connector can be better than a lesser RCA.  I have 5 pin DIN's on two high end tonearms, which are standard factory mounts.  RCA's do give you more cable options, whereas the DIN the option is it.

Thanks spacialking. Maybe it’s my ears, maybe it’s my room or whatever but in the past I’ve bought expensive cables, interconnects etc and honestly I’ve not noticed a difference and I started believing this whole cable thing could be a bit of a placebo but I still have an open mind.

That is why I use Blue Jeans cables!  There are some valid engineering reasons for better cables with optimum design, which translates to better sound.   Likewise for power cables. 

Do consider a contact enhancer, which does make a difference.  Search for it here on Audiogon, there are a lot of discussions on it.

But in my opinion, a lot of cable companies make cables to sell at specified price points, so those with deep pockets can spend their money on them.  The more expensive the cable, the fewer sold, so economy of scale comes into play, which drives up the cost even further.