Sell Hi-Fi and invest in stock market?

Maybe.....8 years from now....take it from a big dog....things have'nt gotten bad yet. When they can't give a NYSE seat away....buy...buy...and buy!

Sell every piece of expensive gear immediately and buy gold.

However...you'll find a very soft market for toys right now but it's going to get a hell of a lot worse.

We are still ahead of waves of corporate collapses. One that began would send stocks even lower. OECD suggest not before August 2009 would be better, but I think that is too optimistic view. But certainly good idea to sell now your gear and buy back the same at half price a year later.

Hopefully I could get a large gain

To state the obvious, long-term the market is more likely to go up rather than stay down.

get a large gain and buy better equipment down the road

Hmmm, not so fast. You'll have to recoup the loss incurred selling yr equip used in a down market... And make enough to cover the added value of buying more expensive in a bull market...

What Kublakhan said, +1!!!