Many seem to be talking about their last system .

You might change your mind later on, when your great-grandchildren tell you they would love to have a system like yours some day.

Just a thought.

Lot's of interesting comments; but, Three_Easy_Payments made me laugh the hardest, so thanks for that!

I bought my first serious audio system in the 1970's; and, I've done a major upgrade every decade since. I suspect my most recent upgrade will also be my last major upgrade. I'm hoping to avoid having to downsize to an integrated amp with bookshelf speakers after I retire.

What gives me hope is my most recent upgrades have been a quantum leap over my prior systems; so, technology is obviously marching forward. What worries me is that can't continue if the generations behind us don't  keep the hobby alive.

Generally speaking, behind us is a lost generation. The hope is for the next one after them.

@bdp24 - yes, the quality of the media is ultimately important; as you so correctly say, the "limiting factor".

@inna - I appreciate your many salient points.

@brayeagle - thank you!

@three_easy_payments - "I'm unaware of any upside to dying with a prudently configured audio system." - In full agreement here.

Really enjoying this thread because it is quite relevant to me. 

In the end, it is all about the sound you like, and of course, can afford.

I have usually had a system for ten plus years. My outgoing system was around 12 years old and the prior was probably 20 years old. Recently I purchased what will likely be my last system (I'm maybe five years away from retirement). There will be some tweaks including wire and power conditioning and possibly a source upgrade if it can beat what I just purchased and be affordable. But I'd see the source as being a relatively distant upgrade.

I now have the distinct pleasure of owning the TAD Evolution system with E1 speakers (when I heard them I knew then and there if I could ever afford them, there were exactly what I wanted), TAD preamp/DAC, and stereo amp. The source is an Aurender N10. For me, this system just sings and it is all I've ever dreamt of. Deep but controlled and fleshed out bass, amazing midrange, and a very sweet, detailed, and non-fatiguing top end. The resolution of this system is very high and it never sounds veiled, with the right media of course -bdp24. With the right media, it is as if you are there. -Let me emphasize that system/component synergy is key to the highest quality sound. I bought what I bought after many demos with the E1s and different components.

I won't wax eloquent about the sound (mostly because I'm not adequately skilled in the audiophile vernacular) but will say that 'when you've heard it you know will it'. That's the way I feel about my new system. I've saved long and hard for decades and am blessed to have found this system and to have been financially able to make it happen.

I will say if you are in the SoCal area and in the search to build a system that sings, then please contact Mike Rose @ Excel Audio in Newport Beach. He understands system building and can put together a system that is highly synergizing. He is also, by far, the best dealer I've ever worked with. I am in no way financially affiliated with Excel Audio, I'm just a truly happy customer and blessed to know Mike (and to be able to call him my friend too.) When you meet Mike, you'll immediately understand his deep love for music and the music making apparatus. It is infectious and to me that is what this hobby is all about. Thank you very much Mike.

Thanks again to @inna for starting this thread.