$1000 upgrade budget- cdp or speaker?


My current system is centered around much tube rolled c-j cav50 integrated tube amp (45w per ch) driving a pair of BW cdm1 se on the Osiris stands. The front end is a Toshiba SD9000 used as a cd player.

Although I have enjoyed the combination for the last 5 years, I am thinking about the upgrade path now. For a budget of $1000, I am considering either to replace the Toshiba with well reviewed CD or SACD combo(used Apollo, Cary 308T, CEC, Sony SCD777es and others) or sell my speaker and go get a used pair of BW 805s.

The listening room is not large and I do not push the volume too much in consideration for the neighbor downstairs.

Any opinion or suggestion would be welcomed.
Thanks!
geneaia
You will get improvements either way by upgrading your CD player or the speakers. I guess you question lies in which upgrade will yield a bigger difference in sound improvement.

I have owned the B&W N805 and still have the CDM1SE's for my rears in HT duties. The CDM1SE's are good speakers on their own and you will definitely hear a difference in upgrading your source, but they have their limitations. As good as the CDM1SE's may be, the resolution and detail retrieval of the N805 will be a significant improvement over the CDM1SE. In comparison, the midrange is fuller and more open, highs more refined and bass goes considerably lower and more controlled. Overall the N805 is a nice step up over the CDM1SE. The 805S is a better speaker than the N805 so you can expect even greater improvements.

Having said that, you wouldn't obtain the full potential of the 805S should you decide to upgrade the speakers first. You can upgrade the CD player first, then the speakers. OR, you can upgrade the speakers first, then the CD player. Either way you get improvements. Personally if I were you, I would upgrade the speakers first, save some money and upgrade the source a few months down the road.
NO BRAINER -B&W N805 - if you don't over drive it hard this is a great mini-monitor!!!
Thank you all for thought-full responses. I’ve enjoyed reading point of view of both side.

Some further questions…
Is the cdp the weakest link in the system as some of you have said? Is the current source,Toshiba sd9000 which is close or better as a cd player than very well reviewed sd9200 of 5 years of age really out of date that something like Oppo will out perform in my current system? I’ve also considered adding DAC instead of replacing the cdp, but ruled out in favor of keeping the system simple.
I'll put forth a contrarian answer, and say replacing the CJ CAV50 integrated amplifier will give you more improvement than either the CD player or the loudspeakers for your money.

My next move after that would probably be the CD player.