could somebody help me out on the benefits of expensive phono and speaker cables?

Any question put forth in good faith is a good one.  

But let’s see, who’s getting rich, shall we? Let’s take a simplified example. Cable manufacturer no.1 sells very expensive cables for $5,000 each. And he sells 100 cables in one year. Not everybody can afford $5,000 cables, but 100 audiophiles per year can. Plus Cable manufacturer no. 1 has to compete with many other cables in that price range. But he knows that going in. Cable manufacturer no. 2 sells his cables for $500 each so will sell many more cables per year, let’s be generous and say he sells 1000 in one year. He also has a lot of competition.

So, what do we have? I’m not including costs of materials, labor, advertising, etc. just gross sales. Cable manufacturer no. 1 grosses $500,000 per year. Cable manufacturer no. 2 grosses $500,000. Looks like everyone is doing pretty well. I should have gotten into the cable business. But the seller of really expensive cables doesn’t gross any more than the guy who sells moderately priced cables. So that part is possibly a myth.

Making up numbers does not debunk anything (of course gk would assert it does seemingly). but it is true that wires have always been one of the most profitable items sold by any hifi vendor at any price. That roll of 16 gauge copper speaker wire you used to buy at Radio Shack had huge profit margin. More money made there than with equivalent electronics for sure. Speakers were somewhat better than electronics but wire and accessories (tweaks) ruled for profit which is of course what all business is about. That might be one reason for some people's obsession in pitching tweaks.

mapman, no offense, but it appears your reading comprehension skills have deteriorated even more than I would have thought possible. One imagines an Amish upbringing might not encourage math skills or reading comprehension skills. No offense to Amish or any other religious groups is intended. I’m sure they have their strengths. Or maybe it’s something in the water where you are, who knows?