Are there portable WAV file players or mp3 players that also plays WAV files?

I've always read that the average person can't really tell a difference between cd quality and mp3 quality. I can tell quite a big difference when I plug my earphones into a cd player as opposed to an mp3 player. I wonder if a wav file would sound as good as the cd. Device memories are getting so mive now, I wouldn't mind sacrificing the memory space.