It’s something to consider if you have a player that’s working well but you want to improve the sound. The other, very handy facility you should consider using is an optical or coaxial digital output This allows the player to be connected to an outboard digital-to-analogue converter (DAC).
In most cases – outside of higher-end products - we’ve found the single-ended approach to perform better, with the balanced option generally just sounding louder. Unfortunately, the only way to tell is to try it. It all depends on how well the balanced circuitry has been designed in both the source and amplifier. These can give better sound quality, but not always. Most machines have standard phono sockets for their analogue output, but some also have the option of balanced XLRs. Or more, naturally, if your system is of the high-end variety. Even a budget player will sound better with some good interconnects, so arrange a demo and budget from around £30 for a better pair. It's best to consider these hook-ups as no more than a 'get started' measure. Just about every CD player will come with a pair of analogue cables in the box.