And the biggest influence on sound quality is...

These kinds of questions are like asking what it the most important part of a bridge.

None of the gear changes have had that much impact on sound quality.

Seriously?  What gear changes have you experimented with so far?  I have heard profound changes with different pieces of gear.  

Besides quality of the recording , I feel the quality ofthe front end is a bit more important then the Loudspeakers , for once the audio signal is converted good or bad it cannot be improved downstream, you only get one chance to define its sound character. I have been experimenting with some pretty good dacs.

that have. Changed the norm in what to expect and  just under $9 k retail ,that can 

stay with dacs that are 50% more expensive ,hint from Europe.

I see the point and can't disagree.  Once a system has good, revealing speakers, the impact of changing the front end can really change the listeners experience.  And I forgot about the recording.  Even on a mid-fi system, a poor recording or poor engineering of a recording can annihilate the music.  And the better the audio equipment, the worse that thing will sound for sure.  I guess if someone has a lousy recording of music they really like they could scout around for an old Radio Shack stereo.

Ossicle2brain +10