Sound Quality: Computer vs. CD Player


Can a computer music system with top-quality CPU, soundcard, software, and cables produce sound quality (for listening) as good as that from a top-quality CD player?

If yes, which soundcards/software are best for new Silver Bullet G-4 Macintosh?

Your opinions/experiences, etc. greatly appreciated!
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I say yes. I have a G4 with a RME soundcard. I don't believe the CPU is particularly important in that the playback of digital audio files is a fairly low load processor task. The RME has both S/PID and AES/EBU digital outputs which are attached to an external DAC. As such the G4 is acting as a CD transport and while I haven't done any direct comparisons with high cost transports, I haven't noticed any deterioration in sound quality when compared to the Sony 333ES when used as a transport. If you don't want to use an external DAC, then you might want to look at the Lynx soundcards. They have an excellent reputation for sound quality.
Ok, I'll say this now. Using a computer for a transport is NOT advisable for a top-notch kit. Think about it...a CD-ROM drive is generally the cheapest transport the manufacturer can use to spec. Computers throw off HORDES of RF interference. The fan creates high frequency vibrations. The digital signal is carried through FAR more ciruitry than your average transport. I used my computer for a transport as a lark, and it was terrible. Everything closed in, and the noise floor exploded. If this is your only convienient viable alternative, then go for it, but I would advise against it. IMHO, computers make for crummy transports. Cheers!
Dear Friends:

Thanks for your fast responses!

To clarify my question, my intent is to use my computer to sample and play music directly from the WEB - not to use the cd-rom as a transport. I'd like to eliminate a transport and dac entirely for this purpose!
I use a computer for mp3's and the kids music. I have tried many different cd-rom's with digital out an external DAC and they do not even come close to comparing to a good cd player. But then my main system is almost completly Cary.