Turntable versus tonearm versus cartridge: which is MOST important?

Spend $150 on each the TT, tonearm and cartridge. Then put the remaining $9,500 into a cable! Shell out another $1k on fancy interconnect nail polish coating.

Case closed. Problem solved. 

Or rather than an unrealistic approach this of all or nothing mentality, why not use a more balanced approach and allocate your budget so that each component gets consideration?

Lastly, why is no one mentioning the phono preamp? This is as much a factor as the rest. Especially if you are using a cheap $50 phono pre built into an integrated. 

Dynamic_driven, because that is a different subject. Cartridges and phono stages to have to match within boundaries. Among a group of excellent phono stages it will most likely be the cartridges that make the largest difference. The job of the cartridge is much more difficult to perform well and the way it interacts with the tonearm is perhaps the most critical match in audio. You can jamb any phono stage into any system if you are so inclined. 

Here's an interesting article/take on this very topic - it's a review on the Rockport Sirius III turntable.

Page Title (iar-80.com)

Ok - I'll have the last word.  The turntable is the most important component ; ).