I should start with speakers. This I know. I’d like to establish a new system.

@yyzsantabarbara  KEF Blade Meta? In a 20k budget? Is that possible?

food for thought https://speakerchoices.com/

Acoustic treatment.

The room will dictate at least 50% of what your system will sound like.

@tomcarr  Agreed. 

If I was in the position of the OP, I do the following:

1. Try to size up the assets and challenges of the acoustics of the room. 
I'd lay hands on whatever gear I can find to listen with.
I'd listen, position, and once some reasonable positioning is established, I'd measure for frequency response. 

2. With the information gained above, I'd try to treat the rooms major flaws, focusing first on 20hz to 300 hz, since those frequencies have to be mastered before dealing with the rest of the range. I'd work a bit, next, on 300hz-20khz.

3. Having brought the room to a baseline of decent response, I'd do a bit of research on speakers and amps that will match my tastes and my room. 

4. Next, I'd start borrowing speakers or buying, used. I'd get a decent solid state amp (used, hopefully a keeper) that can drive a bunch of speakers. 

That would be the "launch sequence" to getting the basis of a good system going, in my opinion. 

Sum:

• Get the room ready.
• Try speakers and amp.
• Get final speakers.
• Get final amp.
• Figure out how to optimize the rest (preamp, DAC, cables, power, additional treatments, subs).

@hilde45 

Bravo!

Fantastic summation.

Orderly progression.

Now THAT'S how to set up a dedicated room!