Balanced VS Unbalanced Outputs

How much difference does Balanced and UnBalanced connections have in terms of audio quality ?

This is entirely dependent on the design philosophy of the designer of the audio component that is being used.

Generally [in most cases] - there are exceptions - most American Manufacturers prefer Balanced [XLR] & most European Manufacturers prefer Un-Balanced [RCA].

Is it a good idea to connect a XLR o/p on a CDP to RCA on an Amp ?

This is not suggested or recommended.

XLR has an impedence of 110 OHMS
RCA has an impedence of 75 OHMS [most of the time]

The XLR [Balanced] outputs have 'ballon' transformers at both the ends [outputs & input]. This is to ensure that what is 'sent' is what is 'received'.

XLR is preferred when the travel lengths are long - rather far - say 10' +

Also in Professional & Studio Applications - Balanced [XLR] runs are preffered.

There are opinions on both sides of the fence. It just depends on which side is your gear !!! If the manufacturer suggests / prefers XLR, then that is what you should use. If the manufacturer suggests / prefers RCA, then stick to that. DO NOT TRY to mix & match. The result will not be too plesent.

Regards,

BHAGWAN69

Regarding connecting them, it would ont be easy since you will have to DIY connection and since they operate not only in two Imedance ranges but also in two different Voltage output levels hence you can connect them only via a transformer !

More about it below..
http://home.btconnect.com/woodgreen/tech_tips/techtip/art6.htm

Bhagwan and Arj, thanks for your replies.
The link provided by Arj was paticularly helpful.