Looking for first system advice

I appreciate everyone's advice. Couple of questions: what are "crossoverless" speakers? Also, can anyone give me the dumbed down story on the relationship btw speakers and diff amps. Ok, so I understand that say martin logans will need a bigger and, thus probably, more expensive amp. how do I know which speakers need more power and how do I know if s certain amp has enough juice to maximize the speakers.

1 more question and I'm sure I'll get a bunch of diff answers- If I can only stretch the budget on say 1 area, speakers, amp, pre-amp, cd. Assuming that at a later date I can upgrade other things, what makes the most sense to stretch on now?

I should have added before that I am definitely looking to buy used equipment (that is how I goet turned on to gon) as I feel I can get much higher quality equip for the same price.

Thanks

So Suburuguru- you are saying that the spendor s3/1p which has 88 db/watt(from their site) is high efficiency but 83db/w is low? how much variance is there so I know going forward what is efficient and what is not?

Stereohp1973: I would say that if, in fact, you are planning to upgrade at a later date, you should find a pair of speakers that you absolutely love, then ask suggestions on what to drive them with. I'm sure that you'll find some local hi-end dealers around you somewhere, who will probably let you audition components in your system, once they get to know you a bit better. Speakers are definitely the most 'personal preference' component, so listen to everything, decide what you like, and find a way to fit it into your budget...

Sounds like you are at the "everything sounds better than what I've got stage". As exertfluffer said do some listening to everything you can find and try to find what you like best. Except for digital stuff, technology isn't changing all that fast. But there is a lot of variety out there right now and finding what's out there that suits your taste is important.
As you can see, most people here recommend a cerain brand because they have listened to lots of stuff and determined what sounds good to them. Otherwise you can get disappointed after you've bought your stereo. Chances are you may listen way more critically after you've bought your stereo than you did in the store. And find faults you didn't hear on first listen.
I'll throw out my preferences, maybe they'll be some help. I could not find floorstanding speakers for under $2,000 that I was happy with so I would suggest bookshelf monitor speakers. Here are good brands that represent a big variety in sound:
1)Dynaudio BM-5 ~$450.00(reputed to be better than "audiophile" Audience 52 version.)
2) Epos M12 maybe still on sale from Audioadvisor ~$650.
3) ELF 1.5 or buy 2 Jordan JX92s single driver and put them in premade, real wood veneer cabinet from www.partsexpress.com. This is better than the omega's I heard.
4) B&W DM 601 or 602 ($450-$600).
5) Monitor Audio Bronze 1 or 2 ($450-600).
6) CBM-170 for $328 delivered. This speaker is very clear and dynamic. People call it a home theater speaker because vocals and rifle shots are very clear. Definitley not as "musical" as Spendor, JM Reynaud, Acoustic Energy Aegis 1
7) KRK ST-6 ~$200.00/pair sold at Guitar Center which is a national chain.

After you find speakers you like, find suitable amp to drive them.

1973, since the dB scale is logarythmic, each 10dB increase corresponds with a 10x requirement in amplifier power...simple math illustrates that +3dB requires a doubling of amplifier power; also remember that +6dB corresponds with a doubling of "perceived" loudness, requiring 4x amplifier power.
Most conventional mid/woofers come in around 87-89 dB/w...simple phyxics of the motors' efficiencies and radiating surfaces. In order to coax a flatter, fuller bass response from smallish systems many designers have to "squash" the more sensitive tweeters' efficiencies in order to have a balanced system, relying on big power amps to make up the requirements to drive these "lossy" passive crossover parts (resistors, capacitors and coils). Thus wide bandwidth baby monitors like the S3/5, Dynaudios, etc., will necessarily come in at 82-85dB/W in order to have decently perceived bass response. The same drivers in the same volume cabinets can also be successfully manufactured with considerably higher efficiencies IF low bass performance isn't required...like in a system using sats and a sub. That's why you'll see small monitors also rated up near 88-90dB/w, since efficiency is usually rated at 1kHz...a very forgiving spec....
You can now surmise that if a SECOND mid/woofer is added, the overall efficiency of the same system will rise +6dB. If the tweeter's efficiency is already high enough to match the combined mid/woofs, then a very satisfying twin-woofer system can be had. Similarly, using either a larger box (especially vented), and/or larger, more efficient mid/woofer, will have the same effect. The easiest comparison I can offer are indeed the Spendors I referred to: the small 5" S3/5 sita at 83-84dB/w; the CS3 simply adds a second woofer in a larger, vented cabinet, extending bass response AND increasing efficiency to 88dB/w; the S3/1p uses a larger 6.5" mid/woof in a larger, vented box, with similar results, and contributes partly to why the S3/1p and SC3 are such a successful front "trio" in an HT system. Interestingly Spendor now has a "hotter" S3 SE with a different tweeter, voiced hotter, and presumably with a slightly higher efficiency spec. But almost everyone I know who's heard both in careful comparos prefers the classic S3/5. The SE is just too hot for 2ch stereo out on stands, and needs a sub, so to my mind is really for a brighter HT system instead of high end audio. As well, its price nearly equals the S3/1p, which is ridiculous. Hope all this helps. Ern