$1500 for a whole system, budding audiophile

Used Peachtree Decco or Nova + Triangle Titus speakers (used) + subwoofer of your choice (if needed) and still maybe some money left for whatever else.

+1 on the MuFi on clearance:

M1 CliC and M1 PWR Bundle $999.00
Sony BDPS790 Blu-Ray $248.00
Pioneer SP-BS22-LR Speakers $127.00
Bulk AQ speaker cable & ICs $100.00

If you can go a bit over substitute these for
the Pioneer Speakers. B&W 685: $650.00

I took the same approach as you when I put together my first system when I was just out of school. I went with a Denon AV 2803 Receiver with NHT Classic 3 Speakers. If you can find a clean Denon 2807 for about $165.00 that route might also be something to consider.

I love this thread. Budget audiophilia, oh things you can think of and play with. Takes me back to when i was a kid.
I recently did a little system to see what i could build on a similar budget, for a study. Taking into account some Monitor Audio Radius 270 floor standers i already had in my garage I added to them to build my system. I bought these speakers on clearance a few years ago for $350 (they were about $1000retail before that). I also had a 720 monitor Audio radius subwoofer with them that i added. Cost $200.
I added a Krell kav-300i that i picked up in excellent condition off ebay for $800
I then won an auction on a near perfect condition Marantz NA-7004 network player for $280 this was $800 new then had a price drop to$499 and provides excellent warm sound to the bright krell and monitor audio combo.

So I ended just over $1600 but it is a very nice little, stylish and compact system with great detail and better than average sound.

I would probably swap out the speakers one day but I. wouldn't know what would sound best or what to get yet.

a good reciever like a Yamaha or Onkyo, JBL Studio L890 floorstanders, Onkyo C-7030 cd player...that leaves a turntable and cart. I guess go for the Audio Technica. That's what I would pick with that kind of money.

Yes, I agree with Lou_setriodes. I can go out on CL any given week and find some great speakers at very low prices. Also, some of the older speakers still have some great value and sound quality. To me, the electronics are harder to find so I would save the bulk of my budget for a DAC/preamp and an amp.