what is the weakest link in my audio chain

Gears only make up a fraction of the factors behind how the system can sound good. Your room system synergy and acoustic treatment (including speaker placement) is the other, and how much you know about music is the third.
I have listened to hi-end gears with total retail price in $150,0000 range; however, I can't say it sound bad, but doesn't sound what it is worth.

Many audiophiles also overlook the importance of AC polority. With correct AC polarity going into all your gears, it is surprised to see the improvement it gives. Work on the polority first, then speaker placement and finally consider change gears.

You might find reviews describing Paradigm v2 as neutral or crisp but you won't find single one calling them "warm sounding".

Good, because I don't want a warm sounding speaker, I want one that's neutral.

Benqsun: I don't see any weak links in your system. If your really want an upgrade to have a noticeable improvement look to your main speakers. But the Paradigms are nice speakers and if you like their sound you would be hardpressed to do better. I would spend more time defining precisely what it is that you find lacking before I started picking an item to upgrade. The items I would not even consider changing are the last three you listed. "Upgrading" those items is not upgrading.

How happy are you with the denon player;maybe modding,replacing or even using a external d/a would result in increased low level detail and microdynamics if that is your goal.

Folks,
Thanks for your inputs.
Before I put up this thread, I have already had something in my mind. I thought you would recommend me replacing the Denon, the speakers, and doing acoustic treatment to the room as the first steps to get a noticeable sonic improvement.
Looks like many of you think my setup is decent. To get better sound than this setup will cost a lot more.
Rleff, without putting another DVD players into my system to do a comparison with the Denon, I do not know how to answer your question. Dealer demo, in my opinion, is not reliable because the rest of the systems are a lot different between mine, or the other dealers. How do I know the sound improvement, or the lack of, is not because of the effects of the rest of the components? I would rather trust Audiogoner's opinions about a particular component. If the majority of you recommend the component, then it it a safe bet that this particular component is worth considering.