I would prefer a set of high-end speakers fed by a cheap phonograph or junk CD player over a very expensive high end source unit fed into lousy, cheap speakers.
Even the cheapest DA converters can sound good on fine speakers. A $200 Audioquest DragonFly Red fed by a $30 Computer CD-Rom on a computer can crush some very high-end transports. Moving up higher to a Pro-Ject or Mytek DAC can yield even better results, still well below the cost of a set of high quality speakers, thus emphasizing my point that the bulk of one’s budget needs to be spent on speakers.
Hooking up the speakers with cheap lamp cord will also yield outstanding results.
The above examples are real world results, not smoke, mirrors and snake oil.