Depends on the shock protection options. Minimal shock protection on good PCDPs should equal lossless output (barring jitter, etc.) I know that my PCDP (D-NE920) offers CD-quality output on the minimum anti-shock setting.
High shock protection, whether on a cheap or expensive PCDP, usually entails some lossy compression.
I don't think anyone offers a PCDP with zero shock protection, because this would be practically unusable.
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