I'm in grad school right now, so stereo funds are extremely limited. Also, I move around a lot; I've lived in five different places in the past two years, so I need something small and reasonably portable.
As for a source, I just use my iPod for now, but I have a Quad 99 CDP/2 on the way, so I'm excited to hear how a quality CDP will sound.
The photo above shows my stereo in my place for the summer. I moved from Colorado to Delaware to do an internship, and I'm living in a really crappy student apartment. My system sounds alright in this setup, but would love to have better acoustics.
I am also a graduate student. Panache and 601 seem like a great combo to me and you have chosen a very very good CD player. Let us know how it sounds. A link to my system is next to my username.