if you had this system, what would you do to make it sound the best you can

Hi, @markley ,

Welcome to the forum.

Yes, I would pull the outboard EQ unless it is used to "fix" very significant tonal balance issues. You should here immediate improvements in focus and detail. Room acoustics are a better solution -- if possible.

There are better options for power distribution/surge/conditioning than Panamax. You’ll hear a difference.

I would get my hands on a good variety of good cables (speaker, interconnect AND power), including models above your current budget that can be returned. I would suggest putting on some Depends™ beforehand. I don’t want to be responsible for what happens when the sum of all those improvements arrive at your ears at the same time. I suggest auditioning cables above your current budget for these reasons: a) it may help solidify your target price/performance selection and make your feel more confident in your selection, b) you may discover your next upgrade when time/money make sense to you, or c) you may find yourself using expletives that you wouldn’t use around your grandkids to describe the (improved) sound, determine they are worth the investment -- and just go for it.

what are you trying to make sound better. the entire system or just one source.  Entire system, upgrade cables and speakers.  Your equipment is very nice.

I suggest you need to establish your objectives.  Once you get above the kind of gear you can buy near the checkout line at Best Buy (/s), it's not really about general improvement...rather it is about a direction you feel you need to push your system to. 

What is it you are looking to do?  More bass?  Sharper transients?  Image/soundstage? Wider sweet spot?

Much of this can be accomplished by looking at the room and setup and not about different gear.  Toe-in, toe-out, move out of corner, what have you.  

That said, I do agree that speakers make the biggest difference if you must swap out gear. 

I strongly encourage you to optimize the system you currently have before you  consider replacing any of your major components. I would do the following, in this order:

1. Boot the equalizer

2. Optimize speaker placement and listening position.

3. If your budget and home allow, room tx is important. This can be done physically or electronically. The cost of manufactured room treatments, physical and electronic, can be prohibitive; but, if you’re handy, you can build some yourself using designs available online.

4. Isolate components. In my experience, you can get a  lot of benefit without spending very much $. Vibrapods and Vibrapod cones are inexpensive and reasonably effective. If you can afford a slightly higher price tag, I’ve had good results with Isoacoustics feet and platforms. I use Herbie’s grunge buster between components stand frames and shelves to good effect. 

5. Don’t accept anyone’s views on power conditioning and cabling, not even mine. The value of these elements in your system is an empirical question, and so one you can answer for yourself. Experiment with them! As others have said, exploration of the effects of these kinds of tweaks is one of the joys of the hobby. When I was exploring these elements of my system, I bought and sold used cables until I found the ones I preferred. I usually recovered my investment when I resold the cables, so experimentation cost me almost nothing. You also can borrow cables from places like the cable company or purchase from dealers who have accommodating return policies. Anyway you choose to do it, I encourage you to explore both power and interconnect cabling. I would begin with power cables and a power conditioner. 

6. Once you are happy with the isolation of your components and the performance of your cabling, you are ready to ask the question: what are the weaknesses of my system, and which components should I consider replacing. I would not ask this question until I’ve done the things listed above.

Good luck and have fun.

This is difficult to decide because better speakers, DAC, or analog front end (turntable/arm/cartridge) would yield noticeable sonic improvements.