First "audiophile" system, now what? Suggestions for best "bang for the buck" upgrade?


After being beguiled with mp3s and the TV AVR, I finally realized I missed having a dedicated stereo system. With a budget of $2400, here is what I put together:
  ProJect Carbon 1 w/TizoAcrylic platter and Ortofon Red cartridge,
  Hagerman Bugle2 preamp,
  Vincent V-60 tube amp,
  Martin Logan 12 speakers.
 No special wires or cables. My room is 14x19 that is open to the kitchen. Compared to what I had been hearing, this system sounds fabulous. But now I want more fabulous. So I am writing to seek help on making short term/long term plans to upgrade. Short term means the biggest improvement in sound that costs $500 or less. The long term plan could cost maybe $2-3k or more. I have read that going from Ortofon Red to Blue might be a an inexpensive but very noticeable improvement? If speakers are my weak link, then maybe Martin Logan electrostatics would be good (when my ship comes in)?
I welcome any suggestions.
128x128etwilley

Hello @etwilley, 

I suggest you invest your short term funds in room treatment.  You can improve the sound in almost any room.  If your room has problems, almost no audio system will sound good, and certainly not its best.

The easiest place to start is probably putting either absorption or diffraction panels on the sidewalls. You can find a good position by having someone hold a mirror on the sidewall. Sitting in your listening position, where you see the tweeter (and midrange) is where to put the panel. You can always adjust later if needed.

If you are handy, you can DIY several panels for about $150 or less. I use Roxul Safe n Sound (IS 1.5” panels preferred because they are denser and have similar sound absorption properties.) for absorption and acoustic fabric to cover.  You can place additional panels on the front wall behind the speakers if needed.

If you have bass issues, traps can help improve the sound balance of the system. Easiest way to set, is to you play a consistent bass track and wander around the room. If you discover peaks and valleys, or your listening position is not “right,” then the traps will help a lot. The bas traps can be constructed the same way, just double or triple up the Roxul IS panels. 

If you DIY the panels, you can use your leftover funds on entry-level audiophile cables which are probably a good investment. As @ggc stated above, power is important and often overlooked.

Enjoy your new hobby, but be warned, it is addictive!

You are receiving a lot of sage advice so far. I beg to differ on a couple of points. One being cables/power etc. While this can certainly enhance (and protect) your system, your question was "bang for the buck". In my experience, cables, power cords etc. yielded subtle (if any) improvements in sound. BTW, different isn't always better. Again, in the "bang for the buck" category, look to your speakers. That's where you will reap the greatest rewards for your $$.
Install a dedicated line before anything else. Not expensive and you could even DIY - I did.