OK - Redhat will do all of the things you want.
1. to read your windows CD. Create a directory in the /mnt tree called whatever you like - let's say mp3CD. Then mount your CD like this;-
mount -t msdos /dev/cdrom /mnt/mp3CD
That should allow you to read the DOS files.
2. Install SAMBA onto your Linux box. SAMBA mimics windows file sharing and allows you to freely access files between the two environments. Redhat comes with SAMBA. To install it click on "System Settings" ==> "Packages" and choose Windows File Server from the Server section. You then need to configure it but it's not rocket science and there are loads of "HOWTO"'s on the web
3. Redhat comes with "xmms",- a media player. - It's pants. Get RealPlayer for Linux free and for gratis from
www.real.com. It's dead good.