Ok this will be a good thread.

What in your opinion is the most important part of a good 2 channel system. Or what has the biggest impact on overall sound. For example if you feel Speakers are most important, or Preamp, Amp, Source. I am not looking for a ss vs. tube debate, just what do you feel is most important.

I will start:
I feel speakers are the most important part. I know lots of you are going to say electronics, but keep it to one part, like Preamp, Amp, etc.
Steve