Making a PC into a digital CD Jukebox

I am thinking about getting a high end PC and using it like a CD jukebox. My plan would be to get a fast PC with LOTS of disk space and memory, then rip all my CD to disk. This way, I'd be able to create play lists using Real or something like it. I would connect the PC's audio output into my receiver's CD or AUX input. My question is - is the sound card in the PC capable of producing reasonably high quality sound reproduction? I'm not an audiophile, but I do want to make sure I'm not taking a step down from a regular CD changer.