Err... it does!
There are 3 common ways of getting audio from an audio CD in a standard CDRom drive. Using the analogue (I'm English, hence the ue at the end
) audio cable, using the digital cable or using digital data extraction. Just like when you rip a CD into wav files, the data
is being pulled down through the IDE cable - I can personally verify this since it is the only type of cable I have connected to any of my CD/DVD drives!
If you're using XMMS (and I suggest you do since it's a nice little media player for the GUI), then you can download an alternative CDaudio plugin that is capable of doing digital audio-data extraction.
The default audio CD reader for XMMS is called
CD Audio Player and you want to look for
AudioCD Reader.
Go for it (oh, and I know it's been linked to before on the forums, so check out the search button
)