Does a ripped cd onto a digital format sound better than the cd played on the cdp

Was going to add Arcam CDS50 is both SACD/cd and streamer and a bloody bargain for sound quality. 
90% as good as my Linn Klimax Digital streamer and cheap cheap 

Playing CDs ripped to FLAC through my Zenith MKII into a Mytek Liberty DAC into a NAD M12 sounds better to my ears than my McIntosh MCD7008 directly to the M12.

Before I purchased the Liberty, I did compare the MCD7008 and Zenith into the M12.  The Zenith SQ is better and with the Liberty, its even better.

@kijanki @audioengr  You guys have made some great posts in this thread that clearly explain many of the obstacles between mediocre and excellent sounding digital playback.
I suggest to those who haven't, go compare the sound of one box solutions and typical mac/pc setups to those utilizing the suggestions here. There's plenty of obvious improvement at a not needlessly expensive cost. Those saying "bits is bits", "my abcbox sounds great and won't be beat", etc. are speaking with self-affirming ignorance.  
Start with XLD or dbpoweramp clean rips and you are on your way...Cheers,
Spencer

Just to add to this thread I have a Cocktail Audio X10 connected to Monitor Audio BX1 speakers.  This is a small system set up in my kitchen.  Among a lot of other options The Cocktail Audio X10 can rip Cds in various formats (I just stick to WAV), has 2TB hard drive and is an amp (I think 30watt output into 8ohms).  I don't know if the ripped Cds will sound better than from a Cd but the enourmous advantage is I can listen to all genres in a flick of the remote control.  As to sound I find it very competent taking into consideration its only a small system.  I listen to a wide genres of music I can be sometimes fussy as to sound reproduction and this system seems to 'serve' music rather than play out its capabilities.  The play list shown on the Cocktail is comprehensive and neat once one gets use to it.  In future I want to upgrade but the Cocktail Audio will be included for its play list, Cd ripping and internet radio (with 20,000 stations) joined to a superior DAC, Amp & Speakers.  I grew up on Vinyls, Reel to Reel and Cds.  But now I just do not have the patience to physically change a record for the turntable, or to stand up to go to the Cd open it and change Cd's.  If the sound quality difference between ripped Cd's and Cd was like night and day I would stick to playing and chaging Cds! But it is not I think unless you are prepared to spend big money for something like Estoric Cds.   

Thank you Sbank. Let me give small example why bits are not the bits.
When we attempt to do something very simple like sending digital signal representing 1kHz we might actually receive three different signals. It is because in order to produce only 1kHz D/A converter would have to receive digital words in precisely exact intervals. Any variation would create additional signals - sidebands. Imagine that digital transmission of this 1kHz signal jitters in time because of 60Hz noise. That would create additional 940Hz and 1060Hz signals - most likely very small but audible, being not harmonically related to 1kHz. Amplitude of these sidebands would be proportional to time variation from ideal moment of delivery while frequency would be difference from 1kHz by how often this variation happens (in this case 60 times a second). Since music is not just simple 1kHz signal but a lot of them time jitter of digital signal will create a lot of additional frequencies - a noise, proportional in amplitude to amplitude of original signal (and undetectable without it).