Here’is my opinion…
If you would upgrade one connection only it would be between preamp and amp. There is a huge difference between monster RCA interconnects and a good pair like Acoustic Zen Matrix Ref 2. I can vouch for that, I tested this in my system. You can hear it. Doesn’t have to be AZ you can try different cables. Next in line would be a DAC to Preamp interconnects followed by a power cord upgrade on DAC, preamp and amp. Polish all that off by a speaker cable upgrade.
If you would upgrade one connection only it would be between preamp and amp. There is a huge difference between monster RCA interconnects and a good pair like Acoustic Zen Matrix Ref 2. I can vouch for that, I tested this in my system. You can hear it. Doesn’t have to be AZ you can try different cables. Next in line would be a DAC to Preamp interconnects followed by a power cord upgrade on DAC, preamp and amp. Polish all that off by a speaker cable upgrade.