<< but wouldn't you lose the sound quality by using RCA cables instead of the optical cable? >>
Use high quality RCA cables. The signal has to get converted to analog at some point. If you use absolute sh!t RCA cables, then yes, it will sound bad.
What is your receiver? How much do you want to spend (roughly) on the CD player?
edit: As I was trying to say in the previous post, the most significant difference in using a digital (optical) connection over an analog (RCA) connection is where the digital to analog conversion takes place. With the optical cable, the conversion takes place in the receiver, using the receiver's electronics. With the RCA cable, the conversion takes place in the CD player, with the CD player's electronics. Obviously, you want the signal to be converted with the better of the two.
So, if you buy a higher-end CD player (relative to your receiver), you'd be best to stick with analog cables (RCA).
If you buy a low-end CD player (again, relative to your receiver), you'd be best to go with optical cables.
If they are roughly the same, you won't notice a difference.