Do you know this kind of media player?
 

I have been thinking about this for the past few days.

I have (say) 7 MP3 CD's. I have (say) a few Audio CD's. Now, What I want, is my media player to play different music files from the audio CD and those MP3 CD's.

Looking at this, one would suggest, that I rip the files from the Audio CD and copy the MP3 files to my hdd and play.

But no, here's the twist. I want a media player that would allow me to select files from my Audio CD and MP3 CD and buffer them to a temporary space (may be, the hdd) and once they are played and I am done, the media player should delete the files and recover the used space. Though this is a time-consuming process, this would good for computers which don't have those 5 in 1 CD changer etc.
It would also
a. save hard disk space.
b. avoid storing files for sharing (ethical values)
c. Development special encoding schemes that would be faster (newer formats)

The player would be smarter if it starts playing while in the background it encodes the other.

I dont see why you would want to make a whole new media player?

The whole new media player is carrying out the task of

And, the other benefits I have mentioned at the end of the post.

Does it delete the files after playing them or upon closing the program? If it's the former, it seems silly, as you could just play them off the disc (it wouldn't be as buffered, but it skips the encoding time, and if you're that short on hard drive space, CPU cycles probably are a valuable commodity as well).