Is it Amps, Preamps, cables, etc. OR Technology???

Hello--over the past 3 years, I have spent well over $150k on various audio / video equipment beginning with Meridian and currently with:

B&W 800ns as mains / 802ns as rears / HTM1D center / M&K 150s sides / Onkyo 905 receiver (yes---only this 905) / middle level cables / Bly-Ray and HD-DVD player / Sony VPL-VW100 projector / M&K hign end Sub

Prior to the above, I had 5 Bryston monos, a Lexicon preamp, a Krell KPsc CD player, Cardas Golden Ref balanced cabling.

I met a tech consultant while purchasing a phone through Craigslist---he had a much simpler system than mine in his home--AND IT SOUNDED BETTER than mine. He came to my home, convinced me into buying the Onkyo 905 with HDMI capability (my Lexicon did not have this). I did this---he came over---disconnected everything else---simply hooked up my speakers directly to the Onkyo 905, used HDMI hook ups for the other equipment---AND IT ALL SOUNDS WAY BETTER THAN the original MUCH MORE ELABORATE AND EXPENSIVE system.

So---am I really missing something, or is it actually possible that all these extremely expensive amps, preamps, cables, etc. are just "ego" boosters, and do not give us the great sound and video that really is what we are all after????