A quality CD player or amplifier and the interconnect between them and the loudspeakers will cause less distortion than 0,01 %. Variations in frequency range or timing are also close to none.
On the other hand, a loudspeaker will cause up to 1% distortion, with it's frequency range and timing being far from perfect.
Try a (blind) test: Borrow a second sound system from a friend or hifi-shop, and swap only the CD player and/or the amplifier, whilst using the same speakers. It is important that you: a) use a record you play often and know well b) play both sets on same volume c) have a friend switch sets while your eyes are closed. d) As a second test, now swap loudspeakers!
Chose your loudspeaker based on the type of music you like to hear. Classical music for example requires best possible accuracy (linearity, transparency) whilst sub-bass below 50 Hz only plays a minor role. On the other hand, if you like to induldge in deep powerful bass, you will need to get big speakers with large scale bass drivers.
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