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Recently I aquired a low-cost Philips CD 723 player. I paid around 40 Euros including shipping.
It is a very low cost device, but it can read CD-RW without problems. My initial plan was to refit a new power supply, clock and internal DAC which would be fed directly by the player's I2S. Going non-OS, I figured it would be a very good sound for little money project.
Here's why it won't work as intended:
The CD 723 uses a one-chip servo/decoder/digital filter solution which belongs to the CD7 family from Philips. This chip features an internal digital filter, oversampling to either 2fs or 4fs. You can chose between those two filters by software, but you cannot disable them. So no non-OS unless you use the chip's biphase-mark output.