I'm taking votes

Linn CD12, the Wilson Benesch speakers are good but the CD12 is fantastic- IMO

speakers definitly before CD.

Why?

I think the CD format is not advanced enough to warrant the $ for the performance and technology offered. By the time you have broken in the speakers something elso digital will be available, save your money that is my vote.

CD, various sampling rates, HDCD, DVDa, SACD... ?

Should you consider investing into your listening room, or is it in tip-top shape as well?

No digital is worth $20k when it will probably be surpassed in 2 years or so for probably a lot less. I am sure the CD12 is an awesome CD player, but there is other digital that will get you close for less. Even a lot less.

Unless I had about $12k to burn (cause in 2-3 years I imagine you will be able to sell the unit for around $8k... net loss $12k if you buy it retail), I would think very hard about investing this kind of $$$ in digital.

Now $20k in a turntable setup (or amplification, preamplification, or even speakers)... This is an ENTIRELY different story.

I'd consider doing it with speakers. Not sure what I would demo in that price range.

KF

Thsalmon, as a Linn CD-12 owner i would recommend that you consider what your current priorites and future directions are. will you be upgrading you whole system over time? how confident of your present amps and speakers are you that you see that direction for a long time?

when i bought my CD-12 almost 3 years ago i wanted to buy my last cd player. i was convinced that the best one-box player would outperform any separate transport/dac and that multiple-format units would be compromises. so far, i have not heard better than the CD-12 from anything. (i have the latest 24 bit CD-12 which is a little better than the original 20 bit CD-12) i love the way the CD-12 works and expect it to hold it's own for years to come.

so i was comfortable that the CD-12 would justify it's cost in the long run, which has turned out to be the case. at the time i bought the CD-12 i was not considering other amp/speaker directions but was wanting to get off the digital upgrade merry-go-round....which i did.

if you have a large collection of cds then it will make each one better. i would also add that the CD-12 is still one of the coolest pieces of audio jewelry to ever come along.....which doesn't hurt.

there is no one way to go.....but having an anchor component that you can build around would be a very good way to go.