Is this Sony CDP still good????

While it is no longer a state of the art player, it still sounds good. I have the same player and compared to my Cambridge D500se it has a better soundstage and better low end weight. It is not as resolving as my Linn Karik/Numerik combo. The build quality is excellent, so maybe at some point you can find an outboard dac to upgrade.

One of my friends has modified several different players. They've told me that they find the older Sony units ( that are built like a tank ) to be excellent platforms for upgrades / modifications. You might want to check with the "tweaker" of your choice to see what they think. A couple hundred dollars may get you a couple thousand dollars worth of improvement. Sean
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Go for the upgrade! I wouldn't cross the street to get a free shanling. I won't buy things made in China.

As long as the basics or guts of the sony are still good there's a lot you can do to improve it and have it last for many more years.

Get an Audio Note DAC and keep the Sony if the digital formats suffice.
Use it as a transport.

I agree with Sean. I would do some sleuthing on mods for your current unit.