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

Listening to EVERYTHING is perhaps a good idea at first but impossible for most anyway... Your room and needs will determine the type of speakers... And a speakers set dont sound the same in different room coupled with different components anyway...

Read about the way to embed any system and any component optimally in the electrical, mechanical and acoustical working dimensions... Begin with what you own now ...Dont upgrade if not necessary or if you dont know how to upgrade anyway , study and experiment...

Learn, study acoustic concepts , experiment with fun or pay for an endless rabbit hole of obsessions for a dreamed "perfection" ...

This hobby is about music learning  and acoustic experiments more than about upgrades and money...

Know what you are trying to do. What kind of music do you love? What kind of tech do you want? Is it just 2 channel or do you want theater?

Most of all, the room is the room. Understand it and what can and cannot work. There is plenty of empirical data - you can avoid a lot of problems by paying attention. This includes dimension, construction, power and WAF. These are immutable givens - addressing any of them is expensive.

Unless you live where home auditions are possible and you can afford it, buy used.

Learn how to listen- develop those skills.

understand that your tastes will evolve or morph and some assumptions may need to be re-examined.

Know that the point of diminishing returns is quickly reached- as the wise man sai, don’t let perfection be the enemy of the good. If you start with good stuff the third or fifth version may not be that much better.,,

Finally relax and take your time - a system is part of your life, not your dr focus- least it should be IMO.

What are your goals?

What are your priorities?

Where do you want to put this system?

What is your budget?

Find resources (dealers, friends, clubs, shows) where there are people who understand these questions and what the implications of your answers are and can respect your answers or help you refine your answers then research, audition, repeat and enjoy the journey.

Let your own ears decide...no one can tell you what sounds best to you. 

It is fascinating psychology to see so many rationalize the way they did things or what they purchased/own as the best. It is the rare post of someone admitting error, or ignorance .  I personally believe that everything matters, but certainly not of equal amounts. Also no doubt there are diminishing returns.  IMHO, items that make the biggest impact on perceived sound are the room and electromechanical devices, ie, speakers and phono cartridges. And balance/synergy…any complex system can only be as good as it’s weakest link.