Most Important?


After speakers where do you focus the lion share of your funds. I known garbage in garbage out. Would you buy a really great amp and an ok cd player of vice versa?
jazzkid
It's all "important", but I would focus on matching an amp with your speakers.
I spend the least amount on speakers and most on source.

Like you rightly said;garbage in ,garbage out
It's not necessarily about the amount of money. After speakers, find the right
amp match as mentioned above. This may or may not be the next highest
amount you spend. It doesn't need to be so.

I have found source and preamp quality is directly related to cost, so IMO, the
source and preamp are often the highest cost components in my system.

From highest to lowest cost (retail) in my system:
1) preamp
2) amplifiers (mono)
3) speakers
4) digital source
5) power cords
6) analog source (including table/arm/cartridge)
7) power conditioning/dedicated lines
8) interconnects
9) audio rack
10) miscellaneous vibration control tweaks
11) phono preamp
12) speaker cabling (by far the biggest bang for the buck in my system)