In addition to personal preference, I believe that it depends on what music you are trying to reproduce. We hear live classical music once or twice a week. We have Opera, Symphony and chamber music series tickets in the center section all around row 12. The major thing that got me into high end audio was trying to reproduce an acceptable substitute for the live experience. We have friends that listen with us to our system and also sit with us at the live concerts. They know nothing about equipment. Over the last two years we have inflicted many “test” pieces of high end equipment on our friends. Based on the “acceptable substitute” for live Mahler, Wagner Stravinsky, and Bruckner, diminishing returns and the onset of personal preference sets in around the estimates of Tireguy and Classic Jazz
Law of Diminishing Returns; where does it kick in?
I think that most of us who have been in this hobby for a while have experienced the "law of diminishing returns", the point at which spending a lot more money produces a little bit better sound or just tradeoffs.
I would like your opinions on where you believe this occurs in Speakers, Amps, CD players, and cabling.