depends... i'd rather have a CD-PLayer that can PLAY MP3 formated CDs... so you can throw about 200 songs [relative size] onto one cd and just carry a few cds...
CD players will play normal CDs and the ones with RADIO kicks ass... so yeah...
I say just spend the money on a Sony Altrac MP3 CD/CD player... those are pretty cool, comes with software for you and everything else you need. It costs roughly $89.99 MP3 players will cost ATLEAST $99.99
So yeah, only advantage from MP3 player is that it's compact... CD players dont skip much anymore either...