1. Store all of CD tracks that you like as WAV files on a 60GB computer hard drive. Write information about the track in a data base for sorting purposes. Make a backup hard copy of the CD using a CD burner. Sell the CD on amazon.com, half.com, etc. The above steps will allow you to make compilations of the music that you like, and provide extra money for the equipment that you need.
2. Buy the best high efficiency speakers you can afford. This will allow you to put all your money into an excellent low watt amplifier. Low watt high-end amplifiers cost half as much as their high watt brothers, but have the same quality of sound.
3. High efficiency speakers will also allow you to use a less expensive passive linestage preamplifier instead of the typical powered active preamplifier. High-end passive preamplifiers using Vishay resistors, are as good as the best active preamplifiers, but cost thousands of dollars less. Search for this preamp on the internet, stores don't sell them.
4. Be creative. You don't have to follow patterns set in stone by audio stores, magazines, and other audiophiles. Items 1-3 above are examples. Here is another example: Klipschorn speakers can only be positioned in corners, right? This won't work in a square room. A solution would be to build a baffle out of two 4 by 4 foot dense particle boards (use two or more layers glued together if you like).
The only thing that matters is that you get the SOUND that YOU want.
5. What you hear in your system should simulate a live presentation. Listen to your system for hours on end. If your ears are ringing, you are playing your system too loud. In the long run, you will enjoy music more at natural levels. If you become fatiqued listening to your system even at normal listening levels, then it's time to upgrade your weakest link. If you find that your systm has the bass slam, carity, and detail that you always wanted, it's time to start enjoying the music and (may God strike me dead) stop upgrading.