I am lucky to have both a dedicated listening room and a living room with music. The listening room includes seating for 5 people between the speakers and the ability to add more chair listening. (That’s why I don’t want speakers that are directional, they limit the enjoyment for friends in sharing the music). The living room system is simpler with a high end CD based system, a smaller stereo tube amp, a very size small pre-amp with a pair of Legacy Signature IIIs. All located at the far end of the room with about 8 listening seats and sound that emanates throughout the family room and dining room as well (good for parties with 25+ people).
I really enjoy sharing my music and do not talk about the equipment to non-audiophiles. The only thing they bring up is that LPs are reportedly superior to CDs and vice versa. I end that discussion by playing both to their satisfaction.
I was an avid stamp collector 45 years ago. Although I enjoy the artistry of engraved stamps, they are about as interesting to friends as showing them slide shows of my travels-in other words, it’ll quickly you to sleep.
My flat (not curved) 75" TV allows good viewing angles for friends and family of about five people when I share my video collection.
I like sharing rather than solitary listening/viewing audio and video; however, when my wife goes to bed at 12 am, I am free to enjoy my music til’ 1:30 am.
I purchased used quasi high end equipment up until I was 34 years old when I could afford things like a VPI turntable, SME IV arm and Dynavector MC cartridges. When I was in my 40s, I started purchasing more high end gear and cabling became important. In the last 20 years, I have now got two high end audio systems. The most important thing for me was buying records, lots and lots of records. Now I buy CDs, lots and lots of CDs because classical music boxed sets are so cheap and good jazz which generally remastered to my liking.