Best Stereo Upgrade Value

Speakers first, mono amplifiers second, pre amplifiers third.  All other changes are like adding sprinkles to an ice cream cone, nice but could live without.

Rather than spending big bucks on what I think the weakest link is (and buying again and again), it’s probably best if I just play with the “environment” (angles, walls, etc.) for a while and maybe I’ll find out that unless I want to spend some really big bucks and upgrade everything, then possibly I’m near the best I’ll get…for my ears (at least). 

That is a sage plan.

I like the last two comments and agree with the recommendation (angles before $$$!).  It's all about "value"...what's the biggest bang for the buck; maybe starting with the weakest link (if you know what it is!).

I normally would not say Phono Cartridge but the new DS Audio Optical cart will render all MC carts obsolete. It’s that good.

Haven't noticed anyone mentioning power conditioner. EquiTech made every component I have perform much better. Single most effective tweak I've come across.  (not just any power conditioner will do that however.)