Nothing indicates that this player decodes HDCD encoded discs. Am I correct to assume that if it's not listed as a feature, then it will not decode this format?

Nothing indicates that this player decodes HDCD encoded discs. Am I correct to assume that if it's not listed as a feature, then it will not decode this format?

That is a correct assumption!
Now if your pre amp or AV Receiver has HDCD compatibility, then your CD player, if playing an HDCD encoded CD will send that signal to your pre amp's processor, via digital connenction mind you, and it will decode the HDCD and you will get the higher bit rate.
My Cambridge Audio 640C isn't HDCD compatible, but my Marantz AV Receiver is . When I play HDCD CD's, the icon illuminates on my Receiver's display window letting me know that it's receiving the signal and doing the decoding.

Hope this helps.

Regards.