Matt,
I see that the unit has the CDM2/10 laser-transport.
I've recently been down the same road with mine!
You're going to have to disassemble the laser from the circuit board and replace the laser.
The CDM2 has the best motor ever produced in CD units (a magnetic Hall unit), but one of the least reliable laser units (according to Philips "experts").
Then Philips released the CDM4 as a replacement, with a cheap DC motor, but a much more reliable laser.
So, I'm sure that you're already putting 2+2 together, and coming to the conclusion that you're going to keep your CDM2 motor, but substitute in a new (100% compatible) CDM4 laser unit instead.
Of course, no parts are still available new, but used CDM4 parts are available on ebay.
Here are a couple of links for used CDM4 units - you want just the laser from them.
http://cgi.ebay.com/?ViewItem&item=280350711753
http://cgi.ebay.com/?ViewItem&item=270398644679
http://cgi.ebay.com/?ViewItem&item=270398646192
Edit - correction - there IS a source for NEW CDM2=CDM4 laser units here - pricey though!
http://www.ersatzteil.justone-schnepel.de/html/philips_cdm2_10_cdm-2-10.html
In the CDM2 service manual, there are caveats for setting up after substituting the "new" CDM4 laser.
Menahem
Learn from the mistakes of others - you'll not live long enough to make them all yourself!