Did you eventually manage to repair it? I just repaired a CD150 which had the same Err message, just posted the report in a topic on this forum ( Philips CD150 repaired successfully ), maybe my findings can be helpful. In my case, the player must have had some bad electrolytics on the decoder board and probably a couple of the griplets where not conducting well, creating instability when cold and resulting in not being able to read CDs when cold. It might be a different problem, but in the process I found out and researched quite a few things.
Just saying: when you think the problem is the transport/servo board, sometimes in these players it turns out the problem is on the decoder board... I'd have discovered this hours earlier if I just happened to have another player around which uses CDM-2, as I could have installed the transport in it and would have immediatly noticed that the transport was working fine...
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