Mike— where might I find the article you wrote that Patrick referenced?
I don’t think I can contribute much beyond what has been posted above. I do think we have come to realize that the room is probably the most important single component in the sound we hear, and reaching the audio nirvana we all seek. Our ears and tastes are also key I think.
I built a system 12 years ago rather quickly when I finally had the funds after getting a signing bonus, and I was like a kid in a candy store. Seemingly 2-3 years of truly obsessive research (reviews of equipment, how to best allocate funds for each component of the system, but not room acoustics/treatments) went out the window. I bought used Audio Research equipment (Ref3 pre, 100.2 amp, PH-7 phono) listed on Audiogon as being huge bang for the buck, and knowing it could be serviced. Got a smoking deal on some Focal Electra 1007Be standmounts through Music Direct, guided in large part by Robert Harley’s suggestion that investing in a quality 2 way offered the best bang for the buck. The speakers ended up being about 10-15% of my system’s cost, not what is generally advised. Thankfully there was great synergy, and I got a very musical system. I am fortunate in that I do not hear time and phase.