I'm taking votes

Get an Audio Note DAC3.1 balanced. Start here. You haven't heard CD's until hear this. I didn't like listening to them until I got one of these.

Linn CD12, the Wilson Benesch speakers are good but the CD12 is fantastic- IMO

speakers definitly before CD.

Why?

I think the CD format is not advanced enough to warrant the $ for the performance and technology offered. By the time you have broken in the speakers something elso digital will be available, save your money that is my vote.

CD, various sampling rates, HDCD, DVDa, SACD... ?

Should you consider investing into your listening room, or is it in tip-top shape as well?

No digital is worth $20k when it will probably be surpassed in 2 years or so for probably a lot less. I am sure the CD12 is an awesome CD player, but there is other digital that will get you close for less. Even a lot less.

Unless I had about $12k to burn (cause in 2-3 years I imagine you will be able to sell the unit for around $8k... net loss $12k if you buy it retail), I would think very hard about investing this kind of $$$ in digital.

Now $20k in a turntable setup (or amplification, preamplification, or even speakers)... This is an ENTIRELY different story.

I'd consider doing it with speakers. Not sure what I would demo in that price range.

KF