How do you know what your weakest link is?


I'm  contemplating what to upgrade and need some advice on what my weakest link is? I'm considering either upgrading my Clearaudio Concept Wood to a Performance DC Wood/Ovation with a Hana ML or upgrading my Musical Surroundings Nova III to a Modwright 9.0. Is my table the weak link or is my phono? What will my best gain come from and what should I expect that gain to manifest as? 
128x128j-wall
@petg60 thanks for the insight as always. I may have a decent phonostage as I'm guessing and a table/arm upgrade may be in the cards. I refuse to get rid of my Hana ML though as I love this cart. 
The weakest link is the one YOU think is the weakest link.

The Modwright  will give you a tube perspective(flavor) to your LP playback. Try it, you may like it. Many here do. Tube units subjectively sound more organic. You just put up with a little hiss during quiet passages and volume cranked. Units that incorporate FET's are quieter than all tube-Modwright is one of them. Most of the popular units are of this topology.

Once I went tube phono, no going back-unless it were the highest order of SS unit$. Ever notice how super high end SS sounds similar to tube gear?
j-wall,

The first step may be to ensure your existing system is operating at its best. 

How many hours on your cartridge?

Are you certain the stylus tip and all connections (including headshell to cartridge pins) are clean?

Have you verified all elements of your cartridge set up/alignment are correct, including loading?

And lastly, are you aware of sonic degradation over time or are you simply feeling a sonic upgrade is due?

If any or all of this suggests an upgrade is warranted then I would start with the cartridge.  Along with speakers and room set up that is likely to make the greatest difference.