"I'll agree pre-amp is probably the most important tweak and if you are running a phono you need one.You also need a volume controll. ANd maybe a way to switch multiple input sources if you have those. A pre-amp is just one such device to serve those functions when needed. Other than that, its just a potentially expensive signal processor that is not very flexible compared to the alternatives."
It's certainly a common view, but its probably one of the biggest reasons, if not the biggest, why a system will under perform. Most manufacturers will tell you that its much more difficult to build a high quality preamp, then an amp. Also, take into account that the weaker the signal, the more influenced it is by everything in its path. That's why I said in my first post that I would take at least 3k if I had 5k to spend on an amp and preamp, and use the bulk if it for a preamp. Its a more expensive and harder piece to get right. So, just to clarify my example, if I were to spend 3k on an preamp and 2k on an amp, I would be doing so in an attempt to have both pieces that are about equal in quality. And, as always, there can, and will be exceptions to this as to how things play out in different situations. I'm just using it as a general guideline.
"01-31-15: Raks
I think its a toss-up. Isn't it true that a really good amp will make just OK speakers sound their best... but really good speakers will never sound their best with an amp that's not up to the task?"
While its true that a well matched amp will go a long way in getting the most out of a pair of speakers, if you don't have a preamp that is equally good, and well matched to the other components, the system will sound like crap regardless. More important, though, is that most people don't realize that the preamp is the problem when they're system doesn't sound right. If you look through some of the posts on this site where members are asking for advice on cables, tubes and many other accessories or tweaks, its usually a good indicator that at least some of the problems are due to not having the right preamp.