Superb wisdom by all participants in this thread. It just so happens I agree with them all. A couple of things I found while on my journey toward musical nirvana were:
1) If you can buy used from a reputable site such as audiogon, not ebay. I have purchased most of my system used and its always been an improvement and its always been exemplary equipment. Latest purchase were speakers and I could not be happier.
2) Your room is more important than your best piece of equipment
3) Listen with YOUR ears not someone elses. Everybody has different tastes so you are the one living with yours. Trust yourself 1st.
4) The most expensive cable is not necessarily the best for you. I've "downgraded" my cables from very expensive to very reasonable and obtained IMO better sound.
5) Live and Love music, the more genres of music you love the closer you'll be to nirvana.
To end this I'm within hearing distance of Audio Nirvana now (only a few minor tweaks required, I think) but it took 50 years to get here one detail at a time.