A well matched system from back then in good working order can easily compete still today. The digital source (CD player) is probably the part where technology has advanced the most since 1985. I would be looking to compare something newer though not necessarily much if any more expensive today as a possible upgrade.
Interesting vintage find
I went to someone's house this week, and this is what I saw in the living room-
Apogee Scintilla speakers
Krell KSA-100 amp
Krell KRS-1A 4 chassis dual mono preamp
Mac MR80 Tuner
Sota Stat Sapphire turntable, with SME IV arm and VdH Cartridge (I think "The One")
Kenwood CD Player
All worked, and I felt like I was in a 1985 state of the art listening room
Apogee Scintilla speakers
Krell KSA-100 amp
Krell KRS-1A 4 chassis dual mono preamp
Mac MR80 Tuner
Sota Stat Sapphire turntable, with SME IV arm and VdH Cartridge (I think "The One")
Kenwood CD Player
All worked, and I felt like I was in a 1985 state of the art listening room