Welcome back to the hobby. A mixed bag of advice on this forum. I have been into audio for a similar amount of time. Some has stayed the same, a lot has changed and most confusingly, some brands that were great are less so today.
If you have time and patience, I would recommend coming to Axpona in Chicago, mid-April. Quintessence Audio (which was mentioned earlier) is a fantastic dealer and carries Wilson here in Chicago area. As you will find out Wilson speakers now range new from $20K to $1M and are really excellent as are some of the others mentioned on the thread; i.e. Magico, Sonus Faber and others. Yes, digital is a completely different realm than in the 80’s (separate DAC’s, streamers, etc.) and can be quite good but analogue is still also doing great. Quintessence has both. Other stores I’m familiar with that are in southern CA are Scott Walker Audio and Alma Audio (a new Wilson dealer). My strongest recommendation is to find a store that you feel you can trust and will patiently work with you as you explore what is now available and start to define your wants/needs and most importantly—budget!
I have friends that have assembled really musical systems for <$20K and friends that have systems that are $1M+. Mine is somewhere in the middle. Nice if you can network into a group of friends that are knowledgeable without being “know it alls”.
If you do come to a big audio show, one thing you will quickly realize is that most of the crappy stuff is gone. The general level of equipment has improved. There are many good-great options. But within that reality, the best costs the most… or at least a lot.
The final point I would make is that the cost of your primary components: source, pre-amp (if you’re using), amp (or integrated amp and speakers) is not the end of the story. Cables, racks, power supplies/conditioners, isolation devices, room treatments, etc. can easily cost more than the basic equipment. Make sure when you start to build your system, that you factor in the auxiliaries.
Good luck in your journey and have fun!