Replace Panny CV51

We have a Panny CV51 5-disc carrousel player. It's about 7 or 8 years old. I think it's time to put the ol' gal to sleep and upgrade. No, I do not have an HDTV nor do I plan to get one before late 2009. Yes, I want the player to be able to handle DVD+R, DVD+R DL, MP3, CD-Audio, CD-Video, homebrew backups (SL & DL) and store boughts. I'd prefer it have optical out and support 5.1 audio, Dolby, and SRS.
Please don't suggest any $39 specials, as with DVD player, you really do get what you pay for. I don't know if having up-conversion is really needed or possible as our Toshiba 32" CRT does not support progressive scan. Serious suggestions and comments would be greatly appreciated. Thank you.