rules are nice, but until you audition several systems that sound like live music, regardless of price, you won't have a "ruler" in your head to make comparisons. so i don't regret having heard the "state of the art" early on, even if i couldn't afford it. yes, i met some snobs, and put up with their insulting comments at times, but i also became familiar with a guy named "david chesky" and prof.johnson (ref.recordings). and before audiogon, you had to spend some bucks if you wanted class-A or class-B. all i could do was negotiate on some demo's or trade-ins if i wanted to save more money. as for shadorne's humorous comments, you can yuck it up a bit AFTER you have spent some obscene amounts from hard-earned paychecks. until then you will have demons knawing at your soul until you get a name-brand preamplifier- and don't deny it! at least then you come home to audio gear that really does command some respect! as for wire, i eventually did get some very costly stuff, but it took me a LONG time to do so, well after i acquired the other componenets i wanted. also, you can get by with a $500 power conditioner on your front end, mainly for surge protection and some modest filtering, for a VERY long time, unless you live in an area that you KNOW creates problems that you can easily hear.
i think there are alot of mid-fi speakers out there that, with a receiver and a $500 cdp, and a used thorens or a rega, can keep you happy IF you know how to BE a happy listener. if not, then put a sneer on your face, put your "rolex copy" on your wrist, and saunter down to the local audio emporium to listen to some "audiophile" recordings.
notice the detail, the stage, and take note of how much the amplifiers weigh (apologies to jrdg!). whatever you do, don't ask what it all costs- a friend recently went to get an estimate of a multi-room home theatre system (bedroom, living room, and patio) from the high-end store we all know and "love". after some intricate calculations, the salesman came up with a total of $28,000, less installation...