It is always interesting reading someone's opinion as to what to upgrade first. Speakers, pre-amp, amp, etc. In my experience, the greatest change and most enjoyable upgrade that I have heard was the speakers first. If your speakers are not very good, then everything else will not matter. A decent Yamaha pre-amp sounds wonderful through a decent amp and very good speakers. I have always recommended to my friends that desired to slowly go from mid-fi to low high end on up, to get decent speakers first. Then, the order after that really didn't matter. amp or pre-amp, it didn't matter the order of upgrade. But speakers made the most dramatic difference. However, in an attempt to eliminate any arguments or insults, please remember, I am talking about an upgrade from mid-fi to low high end. The beauty of the used equipment market is that for a very reasonable price (basically compared to brand new mid-mid-fi equipment) used equipment costs almosts the same. So realisticaly one can go from mid fi to decent older high end for about the same as a brand new mid fi system. For example, used Martin logan Sequel II's or Request are really not expensive and still sound wonderful. Just an example mind you. Then, get a decent pre-amp. Like everyone was suggesting above or a decent amp. order doesn't matter.
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