Ok this will be a good thread.

Speakers will make the bigest difference in any audio system, the differences between sources and amplification are minute compared to the possibilities with speakers. This is not to say the other components are not imporant, but merely that there is less varition in the sound of electronics than with acousitic transducers.

Sorry to be a bit acerbic, but I'm lost here; since when are your ears "PART of a good two channel system"? I'd also say the original question also takes for granted that you are listening to music you like, and that it is well-recorded music. If it is not well-recorded music there is nothing your two-channel system is going to do that can change that, and if you don't have two good ears, I'd say it is fairly obvious that you won't hear the music reproduced the same as someone with better hearing (although the music, and its accurate reproduction, certainly has the capacity to move both those who have impaired hearing, as well as those who can hear perfectly). Yes, the listening room and its contents and structure will certainly play a very important roll in how your system sounds, as well the placement of all of it. But again, the question seemed to be about the components themselves, and not things external to the system. My point is that you guys (& gals?) are straying, though I think 6chac has some very important things to say on this subject! Seriously though, I am surprised at those who would think the speaker can make up for a poor source component. In my experience I'd much rather listen to music (yes, music that I like) played through a good source component on a lesser quality speaker, then listen to a poor source on a great speaker (yes, I have tried both). I just have not found that the latter combination makes me want to listen very long...it is simply not as engaging. Whereas the former, and I have listened to this kind of combination, remains an engaging and non-fatiguing listen to me. Granted, my experience is limited, and is obviously very subjective (YMMV). Given a fixed budget, I would try to find a balance of all the components, but would put some extra $ into my source rather than my speakers. Again, my stress would be on synergy overall, but in my experience, the source is the most forgiving of all the components in combining with others. A great source component is likely to remain a great source component when combined with many different systems, whereas a specific 'great' amp may not as easily swap over throughout different systems and still retain its outstanding qualities in combination with various pre-amps and speakers.

Good one Rosstaman, I can agree with that. I don't feel I can pick one part of the system out. Like a car, which is the most important part? If you say engine, and drive with cheap brakes, you may be in trouble. Another good analogy is the old joke about which body part is most important. The brain says I am, because without me the body wouldn't know what to do. The heart said I am because without me working you, the brain wouldn't be able to function. The argument goes on and on between all the body parts, until the a**hole speaks up and says I'm the most important part. All the other body parts started LOL. The thought of the a**hole being the most important body part, ridiculous. Well the a**hole went on strike. A day or two later, the mind started shutting down, the heart was getting weak, the eyes became blurred. They all relented and admitted that the a**hole was the most important part.
Sorry for the poor telling of that old joke, but IMHO the whole system is only as good as it's weakest link. Great sources are wasted on subpar speakers, and vice versa. Ignore the electricity, and you'll never know how good those thousands of $$$'s of equipment will sound. You need to approach it from a whole systems outlook.

Just my $.02
John

Your arguments are approaching the absurd. No one is saying other component consideration isn't important. What we "speakers first" are saying, they impart the greatest impact on your mind. I had one goal when I set out on my audio journey and that was to give voice to the greatest speaker I ever heard. That, in turn, began the best amp, pre amp, and front end search.

Your system will always be limited by the weakest link. Doesn't matter if it is the source, speakers, amp or cables. A $10,000 system will still sound like garbage if one of the main components is a $99 piece of _____. ie, what would a Jadis system sound like with old bose 201s?