Most important component??

I don't have any room treatments but my room is a relatively small carpeted family room crammed with furniture and stuff; the opposite of ideal.

But Duke, that's an awesome allegory.

I agree....THE RECORDING!

I disagree, the recording should be.......... LAST.

there is no one improtant component. Everything is equally improtant in a system. All the components have to create synergy. With top of the line speakers and crappy source, pre and amp, you will get what percentage of speaker performance? If you have a great source running into a Aiwa receiver, what point does that make?

I think the best performance and when you can actually call it a system is when everything is on the same performance level and synergy exists. That includes cables as well. Ina system like this, every little change is audible. For better or worse.