Dedicated Red Book CD player vs. "Universal" type players....

Beernut , PS Audios new Direct Stream Memory Player is a universal player however not in the same sense of any other universal player on the market past or present .
However there are multiple issues which most if not all universal player brands , it has been found they all have sonic compromises from one thing too another though some company engineers attempted to address , like Bryston with their 3 model , EMM Labs and Esoteric to name a few .

The PS Audio Direct Stream Memory Player and Dac may not be my final digital components though in the here and now that have been by far one of the best purchases in a long , long while .

For a Red Book only CD player look into the Sparkler Audio S503 "spiral" -Smart CD Player. Sparkler Audio was formed when  Kazutoshi Tsukahara left 47 Laboratory and formed 47 Treasure, a short lived kit company that based its designs on 47 labs product and philosophy of less is more. He formed Sparkler to sell finished products designed with the same "less is more" philosophy.
The internal dac utilizes a NOS approach with a TDA1543 chip at its heart. Very natural and real sounding! If your looking for a "close to vinyl" approach to listening then the S503 is a great way to go.  
If your in the states, and near NJ, Charney Audio is a Sparkler Dealer and uses the S503 for his demos and shows.
http://sparkler-audio.com/portfolio/S503_en.html
http://charneyaudio.com/sparkler.html

Sparkler? Sure is a strange website...

I am all in favour of all in one players. I have my plasma tv screen connected to my stereo system, for much better tv sound at the cost of just a cable, and for video of opera etc. With these, how can you not want to watch what you are listening to? Sonically a unit like the Oppo 205 is a worthy cd player, and probably better than many similarly priced cd only players, given the by now small market for those.