That all rather depends on what sort of computer you are running.
My HTPC has all the DAC outsourced to elsewhere, I have a WASAPI filter running in my player to ensure that there is a bit perfect reproduction of the source material to the digital outputs, it has a variety of connections and can be easily upgraded/modified as required.
If anything, my computer is a better source than a CD player, it has fewer moving parts, an isolated power supply, is more configurable and can play dozens of different formats.
I would never go back to shiny bits of plastic.