Hi and Welcome!
this player is part of the Win2000 default installation.
The CD Player will not function properly and I have tried everything I can think of to get rid of it, but every time I put an Audio CD in the drive, it pops up and trys to play it.
Either you disable autorun (best method is with gpedit.msc), or you install some other player and make this the default application for audio CD playback.
P.S.: you might install Windows Media Player 9 on that system. Maybe this helps solving your issue. I personally have no problem with that player, so there must be something wrong with your Windows installation.