It certainly wasn't high-end, but in the 70's when I was in high school and earning a bit of money during the summers, I bought myself a Pioneer Receiver (can't recall the model but it put out about 25wpc) and a pair of Advent speakers. My dad still uses that system on a daily basis in his studio, and it has never required repair. It actually still sounds pretty decent.
My first entry level rig did not come till after I was out of school, in the mid 80's, and on my own earning money as a photographer's assistant in NYC. I bought an AR turntable with a Grado cartridge, a BK EX-140 amp, a Moscode Super-It tube phono preamp, and a pair of Magneplanar SMGa speakers. That BK amp was pretty darn good even by todays standards and I sold it about four years ago for about half of what I'd paid almost 15 years earlier (value of dollar not accounted for there). The Magneplanars were novelty speakers IMO and short-lived in my posession. The Moscode was a great little phono pre, and the AR a classic which I only recently parted with after many upgrades. I was spoiled during my days back then as many of the photographers I worked for had great systems in their studio's (most of which cost more than I'd earn in several years at that time). Being exposed to those systems on a daily basis is probably one of the things that gave me some appreciation for how good musical reproduction could enhance my enjoyment of the music I so loved.
Marco