Not COMPLETELY voodoo on the CD player and DAC. Granted, if you're using the digital output on your Denon player, it will sound the same as any other CD player, regardless of price. However, the DAC sections do vary from player to player and many esoteric CD players have DAC sections designed to have a signature sound (read:coloration). If you have money to burn and have exhasuted other areas of improving your sound (like acoustics, speakers, and proper amplification), then you might want to think about a different CD player. Not for an improvement, but rather for a different sound that perhaps you like better.
Also, when I say "proper amplification", this is referring to using an amplifier that has the guts to handle your speakers. You can't run electrostatics off a cheap $200 receiver. They need a dedicated amp, or at least a flagship receiver like the Denon 5805. But any decent receiver, such as your Denon, will be able to drive 8 ohm speakers with ease, even to very loud levels.
I hope this helps clarify things. By the way, there is a huge section on acoustics on the Audioholics main site that you should check out. If you haven't done so already, you can make some DIY sound treatments that will very audibly improve your listening experience for around $300.