Portable MP3 players have really come down in cost. I bought a RioVolt MP3 Player two years ago for about $150. Today there are many MP3 units on the market selling for under $50. These portable units can easily be patched into your existing stereo or, with the help of some amplified speakers, be set up at your next picnic or pool party.
I use my portable MP3 in the car all the time by connecting to the cars stereo through an adapter to the cassette deck. Works great! Since I can get four or five albums on a single cassette, there is less storage space and less to carry around. Unfortunately, many new cars have eliminated cassette tape decks in favor of CD players which will not play MP3's

oh, well.
Another plus with MP3 is "tagging". You can read the artist and song title in the MP3 player display window.
I use Music Match 7.5 to create MP3's from the CD's I purchase. I am satisfied with the features and results of this product.