Absolutely worth it. I got my first record 50 years ago and soon thereafter got an all in one POC Broadmoor Designer from Korvettes (remember that store?) as a present with an 8 track player and a turntable plastered on top that played multiple records at a time that you could stack.
Got my first real stereo after my freshman year of college when I got all Yamaha - entry level receiver, cassette deck, turntable and speakers. Can't remember the cartridge. When I made a little money in my 3rd year the equipment bug bit me hard and I was selling equipment and constantly reinvesting the profits to better and better equipment. It was an unhealthy obsession. I kept blowing fuses on underpowered amps.
After I graduated and CDs popularity made it impossible to buy new records I didn't buy anything for around 10 years except a CD player (only thing I ever regret buying) replacing cartridges when they wore out. Then it bit again when my Phase Linear (linear tracking) turntable broke. When I replaced it with a simple manual turntable, I could not believe the sound improvement and the bug came back albeit much more mildly with new speakers (kept for 25 years) and a new integrated amp (justified because I wanted a remote and instead of replacing my preamp my trusted audio guru said it was worth it to get this way better integrated and keep or sell off the separates) that I still use 20 years later and it still sounds great.
About 10 years went by I started actually learning things, like how important the arm is, and that started the bug again which got more virulent when Covid hit. I started learning more on the 'Gon about how important other things are besides the equipment (speaker placement, vibration control, etc.) and spent a few bucks there.
Through it all I never spent a big chunk on anything except when I made a bit of stupid money and upgraded my turntable after first getting the arm a while before that. Arm was a better investment, but I don't regret the table because I don't see ever getting rid of it and after putting it on a Townshend platform on top of a wall shelf, it really sounds like nothing.
Because the speakers are the weakest link in my system (but are excellent - bought just before Covid) I think I am done since improving the sound of them would probably cost 30-40% of what I have spent so far in total. I think I am back to replacing only if something breaks or wears out. A cartridge replacement or stylus/remanufacture is on the horizon since it's been 4 1/2 years and I listen about 750 hours year in my estimation. Haven't changed that model since about 14 years ago (did a like for like replacement during Covid since getting it remanufactured was impractical and the deal for a new one was worth it).
Should I have a minor windfall of dumb money burning a hole in my pocket, who knows maybe I'll listen to a few speakers - I really get tremendous satisfaction when I improve the sound, but I am fearful that a new speaker will not sound better, just different, and I really like the sound, especially when I listen closely and hear new things from a 45 year old record. I buy records occasionally, especially if it is a favorite and a new reissue comes out on 45 and the existing one is not an audiophile release. 2 exceptions - Aja and Kind of Blue. I am not expanding the collection much as now I only listen to any given record 2 or 3 times a year, so it is tough for me to justify to myself.
