Spend $nil on CD player.
Don't be a cable chump. Don't allocate much to cables until system spend gets to $10k. Cables can never add as much as active components at this level. Don't buy used cables, they deteriorate over time.
Yes. If you don't have $30k for power amplifiers, choose high-efficiency speakers.
1970s Linn formula: Budget $n. Spend $0.8n on Linn front end. Leaves $0.2n for the rest of the system.