Where is the significant point of diminishing returns on hi-end turntable?


For those that don’t know me I am newish to this game. Yes, I believe this chase for perfection in sound reproduction is a game. There are endless variables affecting the sound of every system and 100x that in opinions on each of these variables. I love cool $hit as much as the next guy but I am looking for an analog rig and I keep getting drawn into the seemingly endless "what about this option that costs tons more?". I started with a $6 to $10K budget and now I am considering a $25K setup (Table, cart and phono stage) after talking to a local retailer. I will be blunt, I want to be that guy in the Memorex ad from the 80’s that is getting blown away by his system (my impression is he is overwhelmed by the amazing sound coming from that speaker not the volume). Now that I have acquired some pretty descent stuff I am spending 15 plus hours each week listening and really enjoying this hobby. I don’t want to have any regrets and just be marginally satisfied with my setup but where do I draw the line? Back to my initial question; what is a reasonable amount to spend on an analog setup to achieve the best bang for the buck? I may be somewhat unique in that I don’t want to constantly be upgrading my equipment, I just want to buy great products the first time that are very satisfying and spend hours listening to great music. I don’t want to be the guy always chasing the next great thing.
128x128mmporsche
whart, excellent discussion of the journey! What you describe very closely matches my experience, also.
mmporsche--That is a great value that Rushton mentioned for the Walker table. IMO, not sure there would be a better value out there for that type of price, but that is just another opinion. I do also agree with many others who commented on the weak link approach to your system. I have found many vendors over the years who let you "use" equipment  to test or try in your own system. Nothing like doing and A vs B in your own setup. I wont mention names as some people on the site dont like others getting free publicity, but i really enjoyed comparing in my own setup and room. Also, as Rushton highlighted, the selection, care and cleaning of your vinyl becomes a necessity once you get to the reference level. Nothing like losing the benefits because your records are dirty, worn, etc. 
The main advice is enjoy the ride cause the trip never ends!
I hope you are relatively young, and I hope you have the wisdom to pretty much ignore all this advice.  Except mine, of course.  Start low and slow and listen carefully at each step in your system development.  Add and then take away in order to get a bead on what does what.  It takes several years to gain a command of the hobby and of how to get where you want to go, and only you can do the work. It doesn't hurt to learn something about electronics and acoustics along the way.  Read books.

Basic questions: Do you think you prefer tube devices or solid state? Turntables typically employ one of 3 types of drive systems: Belt, Idler, and Direct.  Each of these types of drive system imparts a certain characteristic sound; decide which you prefer.  Etc.  I would definitely NOT start out by investing in expensive power cords, as you mentioned above.  Just make sure your power cords are better than lamp cord and are of relatively thick gauge (For example, Loew's sells 12-gauge power cord that many say sounds great for very little money), and then worry about the rest.
Wow, where do I begin? Lots of responses overnight. 

Don, I am not stupid, ugly, yes. I have even mastered a manual transmission and my daily driver is a 993 C2S. I grew up around a professional recording studio my father owned. I can choose from over 5k albums in his collection. I prefer quality over quantity. I have owned a number of TTs in my life, I am seeking my first hi end table. I currently have a $5k analog setup. 


I have invested more than $70K in my base setup with Voxativ 211 tube amp, Voxativ 9.87 loudspeakers, PS Audio Direct stream DAC with Bridge II, PS Audio P5 power, upgraded ICs and power cords, however, that is my next focus after the analog rig. That and some room treatments. 

For cleaning records I just bought a KLaudio unit. This will help me properly clean any records from my father's collection as well as new ones. 
All I can say is its much higher if you have an interest in turntables themselves as much as listening to music. Many factors go into the sound and the options are endless. You can take it as far as you want for as long as you want. It takes time and knowledge as much as money.

Whereas if teh goal is to just enjoy the music, diminishing returns will come sooner and cheaper most likely.

The answer lies mostly with what one looks to get out of the hobby. For some, the returns will never diminish. For others, much much sooner.

You have a good quality ultrasonic record cleaner......that’s huge!  No rig can make up for dirty or poor quality records.