Overrated: the audiophile creed that everything matters.
Underrated: the idea that correct AWG copper wire is overkill for the job it is tasked to do in a sound system.
But that's from outside audiophilia looking in. Since I have an audiophile brain, I believe (or have nervosa) that eveything matters, and I obsess looking for the ever-moving weakest (or less magical) link in the path. It's kinda like being Catholic or a biker-- some things come with the passion, and those outside it do not understand the sacraments or the bliss. But self-awareness should inform the audiophile brain that it's easily manipulated by marketing evangelists.
Oddly, streaming has dampened my equipment obsession. The system seems good enough as is as my interest turns to exploring the musical horizons and things "out there" like Qobuz or RP sound amazingly good on their own...but I'm beginning to compulse over some digital-to-digital converters.
