The most important piece in a stereo system???


I was wondering what people think is the single most important part of a stereo system? It can be the amp, speakers, CD payer, preamp, speaker wire, cables, tweeks, whatever you name it. I just want honest opinions. What would you spend the most money on? I think most of you will either say amp or speakers. I know having all good stuff will make your system sound better, but I just want to know the single most important part. Myself I think the speakers are the most important. I look forward to reading what you think. thanks in advance.
souljasmooth
Actually, I think speakers are least important (after cabling), especially if you look for something that is musical and does not have any really obvious failings (boomy bass, harshness in top end, etc.) I would say source and pre-amp are most important, esp. these days when very good ss amps can be had for very reasonable prices.
I would also say the preamp. The preamp establishes the character of the whole system. Good speakers accurately produce what they are given. So if your electronics are have a weakness, then the speakers will reproduce the faults. Better speakers will only make that worse. I think we may overestimate the source. There are many very musically involving CD players, tuners and turntables that are not the latest technology.

I picked up a Cambridge Audio Dacmagic DAC recently to just to play around with because it was being given away ($100 with a $50 digital cable for free included). The Dacmagic is basically the guts of the CD6 single player with better power supply, etc. This thing is very musical. You just need to ignore in your head it is old Phillips bitstream technology. My 24bit player has better resolution, but it no more musical.

Thought provoking question. Currently all components are of equal value; literally. Amp, pre-amp, cd unit, speaker and wires all cost +/- 15% of each other. I'm currently spending an equal amount on rebuilding and improving the listening room. It took me a long time to see that as a component.

At first, I placed greatest value on the amp, then the front end, now I'm clear it's the speakers. Great speakers will set me free. But, only with the other equipment to support it.

Bill E.
A system by definition, requires careful and often numerous component change-outs to offer the best of the individual parts. That being said, I find the speaker the most visible of flaws. Maybe, that's due to it's revealings of up-stream anomolies or component mis-match, but speaker substitution often brings an entirely new presentation to the system. Then again, without an excellent front-end, following components falter.

But the most critical piece in a stereo system has to be the music.
Your room. Nothing else compares. If you have a bad acoustics or your room is poorly set up, then it doesn't matter what type of equipment you put in it.