would you bother?

I still say, whichever components you upgrade will probably sound better. Some cd recordings are great, some are bad. Some vinyl recordings are great, some are bad.

If I have a great cd player & DAC for instance, I believe cd will sound better than if I have an average vinyl set-up. If I get a better turntable, whatever, my records will sound better than average digital.

Keep playing the upgrade game and see who wins? Then factor in the convienience, storage space, and skips and pops.

Just my 2 cents--

It really depends on what you listen to. For example, I listen to quite a bit of indie rock, and yesterday I bought:

1) Cat Power--You Are Free (Matador, 2003, 150g), and
2)The Shins--Chutes Too Narrow (Sub Pop, 2003)

Each cost me $11 new and just kill! They are both discs that I'd had bought on CD if that were the only option. There's a TON of new vinyl out there for the taking in indie rock, punk, rap, and reggae--and these genres haven't had the grotesque price inflation that's happened to jazz. I mean, no one likes Mingus Ah Hum more than I do, but I'm not going to pay $40 for a reissue.

I bought my TT when CD's were just becoming the rage 20 years ago or so - and I never attained the magic I heard in the showroom, so I went along with CD's. Then finally, a pro set the arm properly, sold me the right cartidge, and I had upgraded the phono pre. Well, there was music like I had always wanted. So, if you're really into the listening, then a TT is unbeatable.

Starting from 'scratch' will require a lot of patience and discretionary income. Good analog rigs and new, virgin 180g - 200g vinyl is expensive. Also, you MUST wash (at least once) your records for optimum play back results....additional costs and time required. I enjoy my vinyl collection, and analog rig, and hope you decide to enter into the field as well. The sound quality is superior to red book cd's.
Regards

late post, but -

At any time there are approximately 150,000 LP's (used and new) for sale on eBay, most of them in pristine condition, and often selling selling for a fraction of the price of a CD. As one example, I recently got a dozen Count Basie LP's from one seller, many appearing unplayed, for $3 each! If you make the investment in even a moderately good playback system, I believe this is the cheapest way to get superb sound.