Which is more important - Interconnects or PCs?

That question is too open ended.It all depends on the paricular system your builiding it upon.Whats the source?The speakers?The Preamp?The amp? If your using a turntable Whats the tonearm? The cartridge? The room setup? You need to address all of these varibles first,before I can answer this general question.

Speaker cables, interconnects, then power cables.

"Is $5000 powercord really necessary?" Of course not, unless you really enjoy being someone's fool. If it were the case that dedicated lines cost this much (instead of 1/10th, as they do) I would be willing to say yes. The difference in this respect is indeed dramatic. But power cords - no way.

Interconnects and speaker cables, that is a different story. These have made a big difference for me. But there is no exact relationship price and quality of match in a given system. It is still easy to be a fool unless you know your own mind and trust your own ears. And personally, I would never spend anything close to $5k on a single cable or wire.

I'd would agree with Rd. I would only add digital coaxial cables after the power cables. So:

Speaker wire > interconnects > power cables > digital coaxial cable

Newmanoc - I have never imagine dropping $5000 on a powercord but somebody did - I just don't see it. Unless someone get it direct from the factory for 1/5th the suggested retail price - otherwise it would not be available here on Audiogon for a fraction.