Do you consider cables to be a "component" of your system?

@soix That was an excellent analogy I concur.

Absolutely not. Silly. 

In the real world, “component” simply means a part, any part, of a larger whole. In audiophile vernacular, the word component has come to be more commonly used when referring to a box. When someone here asks if cables are components, they appear to be asking whether or not they are as important to the sound as a box or perhaps as a speaker. The answer varies by person. I think the 10% rule presumes the system buyer has a limited budget and that they should spend 90% of their budget on speakers and boxes. Up to you how you spend your money. For myself, I have found that once you have a system you like, spending a much higher percentage on cable can bring very worthwhile gains.

Definitely, I’ve had cables that change the whole listening experience for better or worse. Lower gauge cables seem to make a big impact. Going from 14/15 gauge down to something half that will provide so much more depth. A low gauge power cord, same thing. 
 

One thing that is supposed to really change things is doubling interconnects with a y splitter. I’m not sure why this is considered so effective other than halving the resistance, but the “Schroeder Method” as they call it has been a game changer for some.

I consider them as "accessories" . I have been making my own AC cords and interconnects for years now with great results. There’s some good DIY recipes out there that will cost you a fraction of a commercial available cable but still, it is not as cheap as one would think. I have also tried a few cables from famous cable brands with mixed results.

Cables can of course help to bring out the best of your components but they will never be a better solution than a component replacement. One lesson learned is to let a new cable burn-in long enough (>100 h or more) so you can really judge its effect on your system. What your hear on day 1 of using a new cable in your system will be very different after a few hundreds hours of usage. As someone pointed out, ROI on cables is a diminishing affair so there’s an equilibrium one must think about before spending too much on this adventure.