Which is the most important part of a stereo system?


My system consists of a pair of B&W 630's, an old Denon 50 watt reciever (DRA-550) from the mid 80's, a Marantz CD5004 cd player, and now a Pro-ject Debut Carbon DC Turntable.  I'm pleased with the speakers and the cd player and while the Denon sounds good it has some issues and I want to upgrade.

I'm planning on returning the Pro-ject TT and getting a higher end TT.  I'm also looking into getting a new amp pre amp with a internal DAC.

Is the source the most important? The speakers? 

Please Help!
klimt
Removing geoff from the room is best for the SQ. cause' I imagine he just keep's talking ..... 🙉
Controls over the information-synesthetic embeddings field is perhaps a little bit too much to ask for when people dont even properly embed their audio system in the first three dimensions.... :)

You are from the future indeed.....
The best amp/receiver in the world won't make mediocre speakers sound good. Good speakers on a mediocre amp/receiver will still sound good. Spend significantly more on your speakers and sub, just buy a receiver that has the features and build quality you require. In my opinion of course.
I have to go with speakers  .Getting them first ,what you like ,the sound of them.Then you'll know ,what kind of power you need to power those Speakers.Already having an amp that doesn't  have enough power,dampening your speaker choices.