I've had a 52x CD drive I got from Eyetech years ago that works wonders, but when my mum got a new PC I decided to see if her CD drive would work in the miggy, an it did :-)
Mind you, it was an old 4x but it installed perfectly as an atapi.device which was the same as my old one (I did a complete re-install of the CD software, so it wasn't just running under the old settings).
I've got no idea about newer CD drives but they could work.