Cables, just as important as a hi end component?

You wouldn't believe the number of "thrifty" audiophiles who do just that. The end up with mediocre sound, all the while thinking they are genius. Worse, they mix cables ad hoc and figure they're oh, so smart. The community is stuffed with very smart, but also very arrogant people who think they can ignore manufacturer's recommendations and designs pertaining to cables, and magically they will find the optimum set.  :( 

@douglas_schroeder

I agree with you. You can have a good sounding system without attention to the details like cables or doing it poorly.... but all great sounding systems are created by tremendous attention to details and cables and interconnects are important ones.

Avoid people who speak in absolute terms and you'll be okay. 
Remember the old adage: 
I'll defend anyone seeking the truth but will fight anyone who claims to have found it. 
Or something like that.

All the best,
Nonoise

Nirvana SX-1 are famous cables, I didn't try them, though. I think, Chesky Records used them as microphone cables. That alone says a lot. What happened to Nirvana company ?
Yeah, not in absolute terms, but really good cables make a big difference.
 $5k interconnects between two $5k each active components ? Instead of upgrading one or both of those. I don't know, on case by case basis, I would say.  Also depends on what cables you already have.
But signal transmission is extremely important, this is hard to question.

We all know that sensibly designed and well built cables improve system performance, but it is interesting to to see that some members who own systems that are quite nice refuse to use even moderately priced cables.
It reminds me of how surprised I was a couple of years ago when I was reading a speaker review by Art Dudley (whom I very much liked) in Stereophile, and he made a casual comment to the effect that he would not be bothering using any footers under the speakers under review, and that it was basically nonsense.
 I was really shocked that a reviewer of his experience could actually believe that, but there you go.