I don't know the exact problem with audacious here, but I find xmms to be a good CD audio player to try when having trouble playing with other players.
Start xmms, right click on it, open options/preferences -> Audio I/O Plugins, and configure the CD Audio Player 1.2.11 [libcdaudio.so] plugin:
First, make a directory in your home directory where xmms will mount the CD, and where you will see the CDDA files:
Then, in the CD Audio Player 1.2.11 configuration:
Device: /dev/sr0 (this is the typical cd device, change if yours is different)
Directory: /home/<your username>/xmms-cd
Check <*> digital audio extraction
This plugin seems fairly good to try when other things are not working. You can put a CD in, and hit the "Check drive" button and then look in xmms-cd and see the audio files. Maybe you can use xmms! It still has uses!