Again, I'm chiming in late, but I have a job, ya know what I mean?
Anyways, some very interesting comments in this thread, and I am grateful again for being able to learn from others in our audiocircle communty (gush, gush, group hug)
roopaudio, I am very intrigued by your comments about your prototype cdp. Keep in mind that the audiocircle community is a great testing ground for launching a new product. Put me first on the list of auditioners!

Audio Research shares your philosophy with their statement cd player the CD3, zero oversampling or upsampling, but I never had a chance to audition one.
I think my digital system sounds great, but it just doesn't measure up to my modest analog system. When listening to the same recording in each medium, the digital version is always the loser. Those of you who whine about cracks and pops, you wouldn't even be aware of them when listening a good quality record.
However, finding good quality used vinyl takes lots of work and patience, but the hunt can be a hobby in itself. There are lots of used vinyl sources, but for every 10 used pieces I buy for a buck or two, only one or two are worth keeping.
New vinyl is available in tons of places, even never opened sealed lp's from the 60's and 70's. One of my favorite sources for new vinyl is MusicDirect in Chicago.
And even though digital is supposed to have wider dynamic range, most cd's have far less dynamic range than the great classical recordings from the late 50's to mid 70's.