Both are likely good choices for your budget. I have heard good things about the CAL Icon Mk II but haven't heard one. I bought a Cambridge D500SE last summer, a huge improvement over the mass-market CD players I have owned in the past. I have seen new or demo units on the web for $350.
I also have a Sony DVP-S7700. While S7700 doesn't sound particularly good for CD playback, I use it as a transport with an ART DI/O DAC. The DI/O can be had for $200 new and is also a good budget piece if you want to try separates.
I also have a Sony DVP-S7700. While S7700 doesn't sound particularly good for CD playback, I use it as a transport with an ART DI/O DAC. The DI/O can be had for $200 new and is also a good budget piece if you want to try separates.