How do you know what your weakest link is?


I'm  contemplating what to upgrade and need some advice on what my weakest link is? I'm considering either upgrading my Clearaudio Concept Wood to a Performance DC Wood/Ovation with a Hana ML or upgrading my Musical Surroundings Nova III to a Modwright 9.0. Is my table the weak link or is my phono? What will my best gain come from and what should I expect that gain to manifest as? 
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@tablejockey I had a dealer tell me there isn't going to be a major step forward going from my $1500 Nova III to the Modwright 9.0/x. At double/triple the pricepoint from 9.0/x how can this be? Anyone else please feel free to help educate me. 

I may give the 14 day trial Modwright as I'd like to test the unit, but I'd prefer to avoid half steps and if it takes $4k+ then I'll wait to make the move. And surely the Nova III is a nice unit, but it equals a unit twice a much? I don't buy it!
The Modwright 9.0 is perhaps the best bang for the buck.
Check it out…
For sure, the source is the main link in a system.
I heard a million dollar system trashed by a poor CD player!
Wanted to run out of the room screaming.
You may only be interested in changing the few items you listed but as MC was getting at is that we need to see the whole system to make a recommendation. Back in the day we saw many hi-end turntables paired with 139 dollar loudspeakers. Knowing the whole picture really helps to see what your weak link is and it's often something you were not thinking about. 
@russ69 I should probably set up my virtual system on here. Either way: Focal Sopra 2's, Clearaudio Concept Wood, Hana ML, musical surroundings nova III, linear power supply, Primaluna Dialogue Premium pre with Shunyata  Venom V12, Primaluna Dialogue premium HP power with Shunyata Venom HC power cable , Ps Audio P10 power regenerator with Audioquest Thunder power cable, rocket 88 speaker cables.