I would focus first on the proper amp, or integrated amp to drive my speakers. Now that doesn't mean that I'm spending more money on the amp than the source, but the amp/speaker interface is very important. A really great amp may or may not be very expensive, it all depends on how it interacts with your speakers.
A premium source is also a high priority. The real key is balance. A great source with a cheap reciever will not get you any better sound than a cheap source with a great amp.
Sorry, there is no real answer, only you can determine what works for you.
Following Tvad's example, right now my money (MSRP) is in:
1) Analog Source (table/arm/cartridge)
2) Speakers
3) Integrated amp
4) Digital source
5) Various tweaks, rack and isolation devices
6) Power conditioning/dedicated lines
7) Power cords
8) Speaker cables
9) Interconnects
Cheers,
John
A premium source is also a high priority. The real key is balance. A great source with a cheap reciever will not get you any better sound than a cheap source with a great amp.
Sorry, there is no real answer, only you can determine what works for you.
Following Tvad's example, right now my money (MSRP) is in:
1) Analog Source (table/arm/cartridge)
2) Speakers
3) Integrated amp
4) Digital source
5) Various tweaks, rack and isolation devices
6) Power conditioning/dedicated lines
7) Power cords
8) Speaker cables
9) Interconnects
Cheers,
John