The $5000.00 Complete System Challenge

IMHO, speakers "deserve" the most $. (Why do I feel I just painted a huge bull's eye on my chest?!). You have an excellent turntable and no CD Player yet, so I assume that vinyl is more important to you than CDs. Next would be an integrated with a good phono stage that provides a good match to whatever cartridge you have. The integrated will give you more sonic value for the $ spent than separates, and thereby allow you to have more $ available for your CD Player, preferably with a digital out. You did not mention ICs so I am assuming you already have them. Down the road you can then add a separate phono stage and a seperate DAC.

You will get better help if you tell us a few more things - what integrated are you using, room dimensions, speakers on the short or long wall, how far apart from each other, how far from the back wall can the speakers be, how far from the speakers to where you will sit to listen, monitors or floor standing, how deep do you need the bass to be? Carpeted or hard floors? And a tougher question but quite important - What "kind" of sound are you looking for?