What's the most overrated or overpriced piece of equipment you own, have owned or come by?

When trying out an Ayre Codex, was able to try out some very expensive cables (greater than $1K price range) between the Codex and our amplifier.  On a single-blinded test ( spouse was changing the cable ) I was not able to tell the difference between them and ordinary cables.  So we certainly did not purchase them.  but very happy with our Ayre Codex purchase.

I've pretty much been disappointed with ALL my purchases for one reason or another, believe it or not. Simply because, either the hype was so great about a given component and it didn't live up to it, or I just couldn't afford to get the good stuff and satisfy my very picky ear. Now as I get older, I make enough to get the "good stuff", AND I seem to make better choices about my gear, and not make all the dopey mistakes that I did when I was younger.

I wasn't going to participate but I must strongly disagree with starboard, the Yggdrasil beats anything I have demoed in my home, including, Resolution Audio, Chord, dcs. To answer the original post, I hated a pair of Merlin VSMs I bought in 2001 fortunately traded with a guy for some Reynaud Offrandes that I loved, he preferred the Merlins, maybe Merlin guys wont like Shiit gear and vice versa?

My very first set of speakers, inexpensive Infinity towers (circa 1985) was unbearably bright--I wasted time & money trying to tame it. But from this came a key audio realization: know the sound you favor and build around it. I learned I favor deep, rich bass, expansive mid-bass, and pure midrange, and dislike bright, "revealing" highs. Now I know...