Krell Evo202 or B&W 802 or McIntosh C1000 solid

Getting the 802 would definitely be your best choice but then your 275 would also need to be upgraded to at least the 402 or 501. Why would you drop 8-10K on a preamp when your amp or speakers are not in that range?

I guess I am thinking of upgrading in stages. First the preamp, then speaker then amp.

I think I definitely need a preamp, so I guess I will upgrade to a cheaper preamp, then the speakers then the amp.

In that case maybe a ML 380s or something in that price range, since they pair better with non-ML amps.

what is it you don't like about your Meridian 861? I guess many people use it for Home theater; instead of two channel; but if its the v4.2; its internal dacs are quite good. I'd vote for the bigger speakers and amps...your current speakers don't need a bigger amp at present...what are you using as sources?

Of all the upgrades I've done over the years none made as much improvement as getting a top notch preamp.

I owned the ML 380s very nice preamp then decided to upgrade to Krell preamp decided to skip the KCT and purchased the 222 and upgraded to the 202 and you will get 90% of the 202 with the 222. Age was reason for skipping KCT and also for selling 380s besides trying CAST.

This is my current setup.

HT:
Front Speaker: Epic CF-4 (Klipsch),
Centre Speaker: KT LCR (Klipsch),
Surr Back Speaker: KG 3.5 (Klipsch),
Surr Side Speaker: RS-52 (Klipsch),
Sub Woofer: SW-15 (Klipsch),
Pre Amp: MC-8b (Lexicon),
Power Amp: MC-207 (McIntosh)
BD: LX71 (Pioneer)

2ch
Pre Amp: Meridian 861 V4,
CD: Merdian 800 v3 (using MHR), .
Power Amp: MC275,
Speakers: B&W 805S

I am thinking of moving the Merdian 861 to my HT setup, that's why I am considering getting a 2ch pre.

Right now I am considering:

1. ML 39 (upgraded to 390S) - if I get this then I will also move the 800 to my HT system
or
2. ML 380S pairing it with the Meridian 800.

I think you have enough money to do both ($8-10k). The preamp will make a huge improvement and so will a jump in speakers. $8-10k in enough to buy a great preamp and go to 802's.