Five "Golden Rules" of HiFi?

1. Buy a house first. It doesn't matter how good your equipment if you can turn it up to a realistic level.

2. Don't assume that "more costly, more better". So many people think this way that equipment makers are FORCED to inflate their prices to maintain the "better" image or lose market share. If you can't trust your ears, take up golf instead.

3. Don't buy new if you can get it used (typically at a 40-50% discount).

4. Listen to the piece in your system if at all possible. I've purchased after reading a great review and am usually satisfied but it only makes sense to try first.

5. Buy a house first.

Biomimetic: Heard of 'em, don't care for 'em.
What is the "three quarters of a million median market" business? Someone have self-esteem problems?

Biomimetic: Thought I detected a note of sarcasm in your post. My apologies.
I actually DO like headphones.
The problem is I like them SO MUCH that I turn 'em WAY UP!
My aging eardrums take days to recover.
This doesn't occur with speakers.

As far as buying the house; I assumed this post was for the youngsters getting into our sport/hobby (spobby?).
I let my passion for the holy grail blind me to first-things-first common sense purchases.
Have you ever heard of the farmer who, having hunger today, ate his seeds instead of planting them?
We know what happened to him some time down the road.
I just wanted to put this out as a warning.