Question: What are some of your best pieces of advise to someone new to the hobby?

Understand the recordings sound quality of either an analog or digital recording dictates the audio systems potential. Don’t believe loudspeakers are the most important system component, everything matters. A dedicated 20 amp power line or 2 depending on the complexity of your system should be the starting point. Room acoustics have equal importance but should be your last task as you dial in your system. Look for components that have a low noise floor and lack a "mechanical" sound characteristic, even some budget gear can achieve this. Don’t try to integrate a home theater system with your 2 channel system it will almost always degrade the SQ. Lastly know what your biases are and what you like, because there is not one unanimously perfect audio system.

Get your information from a wide variety of available sources. Do not think more money necessarily means better results. Start off smart but modest and go from there. Take your time and do your homework.

Or go cut to the chase with one of the many quite excellent integrated solutions available at all price points these days. Study up on "Future Fi" , for example: Is this the future of hi-fi? (I think it might be) | Darko.Audio

Buy the best speakers you can afford and go from there.

@shebuskij    The worst possible advice! A totally outdated perspective. Speakers are the most flawed component, despite this fact if the electronics and source are not up to the level of the speakers you have a mess on your hands. This is where the upgrading and changing out gear phenomenon was created by print media 40+ years ago. 

Try to find a trustworthy dealer with a good selection of equipment. Audition lots of combinations. 
Read lots of reviews, etc. not so much to pick the merchandise but just to learn the jargon and get a feel for what you are looking for

Make your biggest bet on speakers

within reason, if you can't afford what you want, wait until you can. Otherwise, you run the risk of buying something that is unsatisfying from day one

don't make lateral moves. If you're upgrading, plan on spending twice what the old component cost.

there are components that offer Great value but realize that you generally get what you pay for just like in anything else. There may be components that sound better than others that cost three times as much, but I would suggest that is generally a unicorn.

you can learn a lot from a forum such as this, I certainly have, but take the know it alls with a grain of salt. Hearing is subjective. If it sounds good to you, that means it's good. 
most of all, enjoy the music. Spend more time, listening to music than reading reviews 

and never start a thread about the merits of high dollar switches