As others have said, the choice of speakers matters the most, regardless of relative cost to the whole. Buying used high end gear at a reasonable fraction of MSRP can change the relative cost/investment proportions quite a bit. It can take a bit of time to vet the upstream electronics, but once you settle that, it's all about the music.
It's attention, not money, we should budget
I read with some amusement a lot of posts arguing we should spend X amount of money on speakers, or preamps or amps. I want to make a counter argument: We should budget our time and attention, not the money.
In large part because there are always bargains to be made, and MSRP has been (IMHO) a terrible guide to what an "upgrade" is, especially when considered in the context of an existing system.
30% Room
30% Speakers
5% Cables and power
35% Remaining electronics
I will read your replies thoughtfully. :)