Words From the Wise

Get a real sense of what you are striving for;high end 2 channel,casual listening,surround sound,tube or solid state;but decide which way you want to proceed and get the speakers you can build around with proper system matching of components.
Also you need to understand the acoustics of your listening enviroment and be able to correct any areas that color or degrade the sound you are striving to obtain.
Speaker cabling and interconnects is just as important as well.
Lastly use this site to put your system together saving big $$$ and also ask questions in the proper forums when you have to.

i'm not sure about the "wise" part, but herewith are my words:
1. form should follow function--equipment should serve your real priorities. thus, if you're going to use your system mainly to listen to NPR, it probably doesn't make sense to invest in a megabuck, multichannel home theater.
2. price is an extremely imperfect indicator of quality. any number of manufacturers are making modestly-priced gear which sounds just as good or better as their more expensive, more hyped competitors'.
3. that said, you cannot go wrong buying the best quality you can afford. once you've acquired a great-sounding piece, you'll never regret not buying something inferior. ergo, you're much better off spending your current budget on a few high-quality pieces and augmenting later.
4. cables and interconnects are mostly snake oil; the audible differences between well-made such products are generally not cost-effective. room treatment and placement, however, is critical.
5. unlike video technology, which has evolved extremely quickly, audio technolgy (at least the two channel type) evolves at a much more glacial pace--the components being produced today don't necessarily sound significantly better than stuff produced ten years ago. consequently, the used market offers you the opportunity to put together a truly high-end system at a fraction of the cost of new gear.
6. multi-channel, blueray, ipods, lifestyle speaker systems and other such foofaraw all serve a purpose, but the laws of physics dictate that two channel music, as heard through big old speakers still sounds best.
cheers to all.

Analog is easier to get music from(and the software is cheaper-used records). Audio societies are good to join(You don't have to buy what you hear.). Comparitive auditions have helped me. If you can find an audio manufacturer/modifier to guide you, it is much cheaper in the long run(thanks, Ori). Instead of cobbling together pieces that get good reviews, many times they know what is inside a component and how that sounds. Digital is definitely improving. Tweaks(and tweaking) matter. Don't believe that the more you spend,the better the equipment is. Forums(Audiogon)can be very good for equipment, and if you don't know anything about something(it can bring you up to snuff in a hurry.).

Don't stray from what sounds right to you. Keep an open mind. Pay attention mostly to room acoustics and power line products, ie.. cords , conditioners. Also, especially for TT listeners, don't skimp on isolation. If you do, it will be on your own peril.

I've heard multi-thousand dollar systems in their dealer provided environment, however, I've preferred my system most of the time in my "tiny" room. Never, never disregard the "power" of a properly designed power cord and what it can "do" for your system!!!

Five things
1) Use a high power amp
2) Cross a sub over at 80-turn it down
3) Spike speakers
4) soft pucks under electronic equipment. Not spikes or wood blocks
5) cd does reveal more sound than records