what is the weakest link in my audio chain

You might find reviews describing Paradigm v2 as neutral or crisp but you won't find single one calling them "warm sounding".

Good, because I don't want a warm sounding speaker, I want one that's neutral.

Benqsun: I don't see any weak links in your system. If your really want an upgrade to have a noticeable improvement look to your main speakers. But the Paradigms are nice speakers and if you like their sound you would be hardpressed to do better. I would spend more time defining precisely what it is that you find lacking before I started picking an item to upgrade. The items I would not even consider changing are the last three you listed. "Upgrading" those items is not upgrading.

How happy are you with the denon player;maybe modding,replacing or even using a external d/a would result in increased low level detail and microdynamics if that is your goal.

Folks,
Thanks for your inputs.
Before I put up this thread, I have already had something in my mind. I thought you would recommend me replacing the Denon, the speakers, and doing acoustic treatment to the room as the first steps to get a noticeable sonic improvement.
Looks like many of you think my setup is decent. To get better sound than this setup will cost a lot more.
Rleff, without putting another DVD players into my system to do a comparison with the Denon, I do not know how to answer your question. Dealer demo, in my opinion, is not reliable because the rest of the systems are a lot different between mine, or the other dealers. How do I know the sound improvement, or the lack of, is not because of the effects of the rest of the components? I would rather trust Audiogoner's opinions about a particular component. If the majority of you recommend the component, then it it a safe bet that this particular component is worth considering.

My thoughts were just to try another source if your were interested,denon makes a very nice product designed for performance at certain price point;modding the unit,going new or using a seperate external d/a would give you some areas to think about trying.
If replacing: a dealers audition in your system would be the best comparsion,lastly the external d/a is a route I took once and it worked out very nicely as there are always several higher level d/a's for sale on this site;letting you move up to the next level.