I use an i-20 dock with an iphone and an old ipod. that allows me to use spotify, which now streams 320kbps (and lets you sync up so it works offline as well)
I personally can't tell the difference between the songs streamed by spotify and the CD versions, except for rare esoteric stuff which Spotify only has in lower bitrate formats, and before someone starts bashing, yes, I have A/B tested this on DT880 Pro's and in my car, which I won't go on about because it will make me sound like a ******.
Anyway, the I-20 dock is about $100. It bypasses the Iphone/iPod's DAC and gives you SPDIF optical, coax digital, and RCAs, including video. Someone had tested the I-20 using rightmark and I believe it was bit-perfect.
So while this doesn't answer the question (the I-20 isn't a player in itself) I believe it would solve your problem, since most of us now have an iPod or an old iPhone laying around.
For competing, I don't know that it will work. I don't know about IASCA, but I know an actual CD player was required for MECA last time I checked