how much would you say a good set up cost

I think that at 30-35k you could build a system that would be hard to beat no matter how much more you would be willing to spend, assuming you know what you are doing, but I still think I could come very, very close at 10K used, and could certainly put together an extemely good sound system for less than 5k, and as Jax2 suggests, even that amount of money would be considered innsane by most folks, but reasonable by folks on this forum. So to ansswer the OP, $5k should certainly get you a "good set up". The rest is fun and games that come with being into the hobby IMHO.

'the rest is fun and games'-Pubul57.....you are correct sir. one only has to attend 'one' equipment convention or show to figure out that most of what the companies are offering is an odd exotic cocktail which has no more bite than most of what you find in what the hobby deems as beer budget mid- fi.

I agree with Elite - that to the many professionals (executives, Doctors, lawyers, etc.) that use this site, $30K is not an extravagant amount to spend on a good “new” Stereo System, but is rather quite realistic.

I too agree with Jax2 that outside of the Audiophile World, say to “Joe The Plumber” $30K is a lot of money to spend on a Home Entertainment System - and, that there are middle-class folks in this Country that are (or soon to be) hurting big time, and to whom a pair of good Speaker Cables is the equivalent of a month’s income. But, this is not the matter at hand on this “Site” – the pursuit of “state of the art”, and for the most part “cost no object” sound reproduction is - and with that said, I feel that the majority of us are on the same track.

My point to some extent is that while many on this site may be able to spend 30k, that even if you have the money -there is no need to spend that much for a very excellent system (I should talk). SOTA is an elusive idea to me, but I know that you can have excellent sound for 10k or less. For example, I think that the recommedation made earlier of Merlin VSMs with an Ars Sonum integrated would be more than impressive to most listeners, even experienced Audiogon folks - it is a very well sorted speaker with an amp practically designed to drive them - true, proabably closer to 10k used, but a pairing that a few folks with former 40k systems have come to own for reasons other than limited $$$. Cost no object doesn't always mean better sound (though obviously it can). I heard a few CNO systems at RMAF'08 that I would not want in my listening room compared with my more "humble" system. Experience and understanding how to put a system together is a very valuable form of currency.

The "room" should always be figured into the system cost (unless you're talking headphones). For most of us it's difficult to have a whole room devoted to audio which is kind of what you need. From my experience most speakers need to be pulled at least two feet from side walls and 4 feet from the rear wall. That takes up a lot of space. Then the room needs to be "deadened" using sound absorption materials (DIY foam blankets). From there a tube pre-amp and a 100 watt SS amp will make most speakers sound pretty good. I personally enjoy when the music sits between to 3' behind the speakers. That way I get a window into the music instead of it hitting me in the face. Anyway back to the topic at hand, spend the money on the room even if that means finishing a dedicated space in the basement. All in all I think you could spend $8-10K (room, speakers, pre-amp, source, amp) and have a system that should be enjoyable for years. If you already have a 12x16 finished room then you could cut that cost in half easily. That amount is based on finishing the room yourself along with buying mostly used gear.