I finally figured out the problem using a rather risky method. There was dust on the lens, and since you have no access to the lens unless you tear your CD-player apart, the only way is to let your finger work.
What you do is eject the CD-player, and while ejected, you get your finger inside and feel the bottom of the area where there should be a lens. Don't push too hard since you could be pushing your lens by accident and then you'll most likely have to trash your player. You only need to get some dust off the lens, so move you finger over the lens, touching it slightly to remove enough dust.
Now get your finger out of there and try to play a CD, and if you're lucky, it'll work. *Excuse me if my instructions sounded dirty*
Have a nice day,
Alex
Alex, February 2009