Jeff,
Since everything is so subjective when researching a upgraded CD player, you'll just have to have a listen to both side by side to make the final decision.
To comment on difference in quality, it depends on how you hook up the CD player. Sure there''ll be a difference if you connect it to your integrated amp with analog stereo RCA cables, because the NAD or Panasonic player is doing the processing in this case. Conversely, a digital connection makes the disc player strictly a transport, so the Rotel will be does the processing with this connection method. There might a few factors that make a difference between the NAD and Panasonic with a digital connection, but I'll leave it to more experienced people to fill us in on these factors (if they exist). I don't have a higher end player than my consumer level Toshiba SD-4800 player, so I can't comment on possible benefit of the NAD player with a digital connection.
Hope I helped a little,
Mark