Problems with players reading CDs is typically the result of the CD itself and not the player. I have over 3500 CDs of varying brands, and many of my disks have been played back on a handful of different players.
I’ve never had a player in the price category of your Wadia though. At the moment, besides my Oppo UDP-205 which is a universal player, the only stand-alone red book CD player I have is an Emotiva ERC-3. One of things it does extremely well is "read" the disk, and in fact the ERC-3 differentiates itself from many other more expensive players because it spins the disk 3 to 4 times faster (1000 RPM) instead of a most players (300 RPM) and what that does is allow for re-reading of the same information.
However, if error correction algorithm is engaged then I also agree this is not "perfect" and is in fact a "best guess". In fact, this notion of "guessing" can be demonstrated when using a PC and the defacto standard ripping software, Exact Audio Copy. If a CD that cannot be read in a particular spot is ripped using "burst" mode, the data (albeit not all of it) can be copied/ripped. If you use a "secure’ mode in an attempt to "perfectly" read the data, often times this will not work (i.e. hang the software) or if it does work take an hour to complete instead of minutes.
I’ve never had a player in the price category of your Wadia though. At the moment, besides my Oppo UDP-205 which is a universal player, the only stand-alone red book CD player I have is an Emotiva ERC-3. One of things it does extremely well is "read" the disk, and in fact the ERC-3 differentiates itself from many other more expensive players because it spins the disk 3 to 4 times faster (1000 RPM) instead of a most players (300 RPM) and what that does is allow for re-reading of the same information.
However, if error correction algorithm is engaged then I also agree this is not "perfect" and is in fact a "best guess". In fact, this notion of "guessing" can be demonstrated when using a PC and the defacto standard ripping software, Exact Audio Copy. If a CD that cannot be read in a particular spot is ripped using "burst" mode, the data (albeit not all of it) can be copied/ripped. If you use a "secure’ mode in an attempt to "perfectly" read the data, often times this will not work (i.e. hang the software) or if it does work take an hour to complete instead of minutes.