With all your knowlege you have gained over time,

Excellent comments from everyone. I'd find some "audiophile" friend or friends whom have a vast inventory of equipment sitting around and have them put a system together for you. I'm sure something nice would emerge. Then buy music/go to concerts/enjoy the friends and family around you and forget the equipment and enjoy the moment. Honestly, I have no regrets. Life moves on.

Hi:
I really can't relate to that. The more time passes (If, in fact, it does pass)...the less I find I know.

Sincerely...
I remain,
Clueless

What would I do differently??? Being that I started this hobby 30 years ago, I was already buying the best technology I could afford at the time...with much enjoyment and no regrets. With today's knowledge I would put much more emphasis on wires and power conditioning, however, wire technology wasn't developed yet then, and power conditioning wasn't needed since power line pollution wasn't prevalent. To put it simply, I wouldn't change a thing.

Brownsanandy,
Greetings,
If I had to sell off all my gear, I'd have much larger problems in life than listening to pretty music. So, I'd likely not continue to be an audiophile. If we can't adapt enough, we die.

If I had the knowledge I had now starting out, I'd have a better system sooner.

If you're asking for experienced person's equipment recommendations, you'll get a million answers and be no further than at the start. I have found specific component questions to be far more helpful, i.e. one I asked recently, "What's the next step up from the Rega Planet 2000?"

If you just enjoy philosophical discussion, your question is a good one. But it won't help you actually put together a more satisfying system to your ears.

I'd do it much the same as I did. Know what music dominates your listening & decision. Give yourself the biggest budget you can- quality costs.Educate yourself. Read trade magazines.Enquire and research with reputable shops; they will teach you to listen critically for the purpose of evaluating. Ask working classical musicians for opinions; they are not rich but musically discerning & often from families who listen to music. I determined that a # of Monteal Symphony Orchestra members liked the QUAD Electrostatic loudspeakers( I ended up buying-with the 33/303 combo).
Listen with a variety of music you like.
Buy the best sound that is affordable.
Use it and enjoy music for years. Listen for enjoyment & pleasure- don't be critical.Listen to the radio to find what cd's you want. After some years & when money is available try a variety of upgrades, firstly probably power conditioning, then better i/c's & speaker cables - big bang for buck. Try before you buy, or, buy used-where items can be resold for a similar amount. Reinforce your box type louspeakers for dramatic improvement. Hopefully you've learned of knowledgable, reliable experts along the way. Use their advice.