what Fi?

(common idea of) Lo-Fi: 1960's Japanese transistor radios, Small cheap (3" reels) portable 1960's tape recorders. Kids crystal radio sets. pre-electrical 78's via grammaphone.
(Audiophile idea of) Lo-Fi: Any new component costing less than $1,000 each
Mid Fi is anything costing between $1,000 and $10,000.
Hi fi is stuff costing $10,000 and up

The question should have been -

What do Low Fi Mid Fi and Hi Fi have in common ?

The answer - nothing to do with music.

interesting, if ultimately unsolvable question. in the auto world, lines are cleanly drawn on the basis of cost; thus a $15k Toyota Corrola would be considered entry-level (lo-fi), the $33k Avalon would be mid-fi and the $70k Lexus LS would be hi-fi (the six-figure Lamborghettis would thus be super-duper, ultra hi-fi). Because a car's performance, accoutrements and other quantifiable attributes are generally proportionate to its price, this a logical delineation. In audio, however, the delineations are much more ephemeral--i.e. the differences between a $1k preamp and a $10k preamp aren't always so obvious. Similarly, the prices of audio equipment can reach such astronomical heights that gear generally regarded as "hi-fi" (e.g. mcintosh or bryston) might be classified as "mid-fi" if only price was considered. ergo, it would seem that any objective standard for classifying audio would have to take into account not just price, but reputation, measured performance, retention of value and a dollop of snake oil.

You got taken, Elizabeth.

Amarg,
These days some companies are making some very "hifi" all in ones, ie Naim