More money toward better speakers or a better DAC?


Speakers need quality content to play.  Great recordings sound very good on low end speakers.  Crappy recordings sound bad from great speakers.  Seems focus is well served on improving quality of incoming sound.  The Dac is a huge part of the equation.  
Are we all ‘cheaping’ out by not spending more for a better dac? 
emergingsoul
No, you can buy transparent DACs for under$200. Speakers and room interaction along with source media accounts for 80% of what you hear.
Something that makes without a doubt the biggest difference in sound vs something that makes quite possibly the smallest.  
Wow.
Great speakers are great for a decade. Great DACs are great for a month. Choose wisely.
“Are we all ‘cheaping’ out by not spending more for a better dac”

I say pick the best DAC you can afford. IMO, the quality of the DAC is directly related to how important is digital streaming / playback is to you so choose wisely :-)
Are we all ‘cheaping’ out by not spending more for a better dac?
This is a common misconception in digital audio. Price and better have nothing to do with each other when it comes to DACs. That ship sailed long ago.