I agree that the Panasonic and the receiver are holding you back. I would put my money into improving from the source.
Does the Panasonic have digital output? If so it could be used as a transport into a DAC. I would replace the receiver with an integrated amplifier. Some integrated amplifiers have onboard DACs. Check out the Yamaha A-S801. Buying used will stretch your budget.
Sell the Velodyne sub, maybe replace with another one after maximizing the value you have in your main speakers.
Does the Panasonic have digital output? If so it could be used as a transport into a DAC. I would replace the receiver with an integrated amplifier. Some integrated amplifiers have onboard DACs. Check out the Yamaha A-S801. Buying used will stretch your budget.
Sell the Velodyne sub, maybe replace with another one after maximizing the value you have in your main speakers.