SPEAKERS, that’s where real differences can truly be heard, and there, progressive improvements are low, mid, high, unbelievable! The price of speakers is proportional: low, mid, high, unbelievable. Of course there is marketing muddle, but the functional and sound differences are readily understood and heard.
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Next: match the correct speakers to the listening environment. BIG differences
Next, feed what content into those speakers? BIG differences
Next: what equipment ’chain’ feeds the content. Each ’thing’ may or may not make a difference, the degree of difference relative to the speakers, and listening space is very slight if real, the power of expectation bias is HUGE and must be guarded against.
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Now, analog chain: happy days to you, enjoy the chase. avoiding problems a big part of success
Now, digital chain: happy days to you, enjoy the chase, not for me.